NEW YORK (

TheStreet

) -- Want to know which banks investors are betting against? Take a look at the short interest ratio, which divides average trading volumes by outstanding short interest.

TheStreet

compiled the following results using

Bloomberg

data, focusing on banks in the S&P 500. Here's what we found.

5.

People's United Financial

(PBCT) - Get Report

is fifth-most shorted, with a ratio of 2.61. SunTrust shares are down 11.72% year to date.

4.

U.S. Bancorp

(USB) - Get Report

is fourth-most shorted, with a ratio of 2.70. U.S. Bancorp shares are down 7.37% year to date.

3.

Comerica

(CMA) - Get Report

is third-most shorted, with a ratio of 3. Shares are down 42.77% year to date.

2.

M&T Bank Corp.

(MTB) - Get Report

is second-most shorted, with a ratio of 3.05. M&T Bank shares are down 18.66% year to date.

1.

Zions Bancorp

(ZION) - Get Report

leads the pack in this category of dubious distinction, with a ratio of 5.45%, nearly double the 2.82% ratio

in the middle of this month.

. Shares are down 37.96% year to date.

>>To see these stocks in action, visit the

5 Most Heavily-Shorted U.S. Bank Stocks

portfolio on Stockpickr.

--

Written by Dan Freed in New York

.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.