3,721 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,721 shares of the financial services provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Commerce Bancshares by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 130,694 shares of the financial services provider’s stock worth $6,980,000 after buying an additional 482 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at about $378,000. KBC Group NV increased its holdings in shares of Commerce Bancshares by 65.6% in the fourth quarter. KBC Group NV now owns 15,024 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 5,954 shares during the period. CIBC Asset Management Inc raised its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 16,451 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 799 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Commerce Bancshares by 0.3% during the fourth quarter. American International Group Inc. now owns 160,424 shares of the financial services provider’s stock worth $8,568,000 after purchasing an additional 539 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total value of $245,726.25. Following the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at $3,256,471.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,612 shares of company stock valued at $3,184,609. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Stock Performance

CBSH stock opened at $58.52 on Friday. The firm’s fifty day moving average is $61.52 and its 200 day moving average is $57.49. The firm has a market cap of $7.54 billion, a PE ratio of 16.32, a P/E/G ratio of 9.40 and a beta of 0.74. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. Commerce Bancshares’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts predict that Commerce Bancshares, Inc. will post 3.97 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.85%. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CBSH shares. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group raised their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.71.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.