Commerce Bancshares, Inc. $CBSH Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 61.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,070 shares of the financial services provider’s stock after purchasing an additional 28,517 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Commerce Bancshares were worth $3,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $85,282,000. Champlain Investment Partners LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $58,830,000. Vanguard Group Inc. boosted its stake in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after acquiring an additional 1,098,142 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after purchasing an additional 1,070,980 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Commerce Bancshares by 37.4% during the 4th quarter. First Trust Advisors LP now owns 2,352,406 shares of the financial services provider’s stock worth $123,125,000 after purchasing an additional 640,928 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded up $0.42 during midday trading on Tuesday, reaching $59.16. The company had a trading volume of 131,877 shares, compared to its average volume of 1,286,947. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $63.19. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.58. The company has a fifty day simple moving average of $53.63 and a two-hundred day simple moving average of $52.46.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The firm had revenue of $475.69 million for the quarter, compared to the consensus estimate of $481.94 million. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that Commerce Bancshares, Inc. will post 4.14 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, June 5th. Commerce Bancshares’s dividend payout ratio is 26.38%.

Analyst Ratings Changes

CBSH has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday. TD Cowen reaffirmed a “hold” rating and issued a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Hovde Group cut their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.67.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.