Hsbc Holdings PLC Invests $7.34 Million in Cullen/Frost Bankers, Inc. $CFR

Hsbc Holdings PLC acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 47,379 shares of the bank’s stock, valued at approximately $7,345,000.

A number of other hedge funds have also added to or reduced their stakes in CFR. BlackRock Inc. purchased a new stake in shares of Cullen/Frost Bankers in the second quarter valued at approximately $1,133,453,000. Dimensional Fund Advisors LP increased its holdings in Cullen/Frost Bankers by 18.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,772 shares of the bank’s stock worth $209,833,000 after purchasing an additional 236,808 shares during the period. Geode Capital Management LLC increased its holdings in Cullen/Frost Bankers by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,224,265 shares of the bank’s stock worth $155,059,000 after purchasing an additional 10,246 shares during the period. Bank of America Corp DE raised its position in Cullen/Frost Bankers by 11.8% during the 1st quarter. Bank of America Corp DE now owns 1,210,722 shares of the bank’s stock valued at $165,966,000 after purchasing an additional 127,483 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cullen/Frost Bankers by 2.3% in the 3rd quarter. Northern Trust Corp now owns 965,821 shares of the bank’s stock worth $122,437,000 after buying an additional 21,793 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Carol Severyn sold 837 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $148.29, for a total value of $124,118.73. Following the completion of the transaction, the executive vice president owned 12,712 shares in the company, valued at $1,885,062.48. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CFR has been the topic of several research reports. Jefferies Financial Group upgraded Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and raised their price target for the company from $135.00 to $160.00 in a research note on Monday, July 6th. Royal Bank Of Canada increased their target price on shares of Cullen/Frost Bankers from $168.00 to $176.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Morgan Stanley upgraded shares of Cullen/Frost Bankers from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $141.00 to $200.00 in a report on Tuesday. Stephens increased their price objective on shares of Cullen/Frost Bankers from $169.00 to $183.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Citigroup lifted their price objective on shares of Cullen/Frost Bankers from $131.00 to $145.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $166.67.

Cullen/Frost Bankers Price Performance

Shares of NYSE CFR opened at $161.90 on Thursday. Cullen/Frost Bankers, Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $170.80. The company has a market cap of $10.06 billion, a PE ratio of 15.30, a P/E/G ratio of 2.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.63 and a current ratio of 0.63. The business has a 50-day simple moving average of $162.78 and a two-hundred day simple moving average of $148.32.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating the consensus estimate of $2.55 by $0.15. The firm had revenue of $576.01 million during the quarter, compared to analyst estimates of $589.72 million. Cullen/Frost Bankers had a net margin of 23.34% and a return on equity of 15.55%. During the same period last year, the firm posted $2.39 EPS. As a group, equities analysts expect that Cullen/Frost Bankers, Inc. will post 10.91 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. Cullen/Frost Bankers’s payout ratio is 38.94%.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.