Y Intercept Hong Kong Ltd Has $1.67 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Y Intercept Hong Kong Ltd lessened its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,768 shares of the financial services provider’s stock after selling 6,339 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Commerce Bancshares were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the period. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares during the 4th quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares during the 3rd quarter valued at approximately $39,000. True Wealth Design LLC acquired a new stake in Commerce Bancshares during the 3rd quarter valued at approximately $47,000. Finally, V Square Quantitative Management LLC increased its position in Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, Chairman David W. Kemper sold 4,500 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the sale, the chairman now directly owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,054 shares of company stock valued at $5,771,192. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CBSH shares. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price target on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.83.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH opened at $64.24 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The business’s fifty day moving average is $64.67 and its 200 day moving average is $64.47. The stock has a market cap of $8.24 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same period last year, the business earned $0.84 EPS. Commerce Bancshares’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

About Commerce Bancshares

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.