Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,881 shares of the financial services provider’s stock after selling 1,621 shares during the quarter. Hsbc Holdings PLC’s holdings in Commerce Bancshares were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. First Republic Investment Management Inc. increased its stake in shares of Commerce Bancshares by 0.3% in the second quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock valued at $3,496,000 after purchasing an additional 138 shares during the period. NewEdge Advisors LLC increased its stake in shares of Commerce Bancshares by 1.2% during the second quarter. NewEdge Advisors LLC now owns 12,959 shares of the financial services provider’s stock valued at $851,000 after acquiring an additional 154 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Commerce Bancshares by 0.9% during the second quarter. Coldstream Capital Management Inc. now owns 21,305 shares of the financial services provider’s stock valued at $1,399,000 after acquiring an additional 180 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Commerce Bancshares by 66.1% during the second quarter. Meeder Asset Management Inc. now owns 455 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 181 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Commerce Bancshares by 0.5% during the third quarter. Quantinno Capital Management LP now owns 35,677 shares of the financial services provider’s stock valued at $2,360,000 after acquiring an additional 188 shares during the period. Institutional investors and hedge funds own 64.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, February 11th. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $70.48 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. Finally, Piper Sandler raised their price objective on shares of Commerce Bancshares from $69.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, November 16th.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 884 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $65.37, for a total value of $57,787.08. Following the completion of the transaction, the senior vice president now owns 9,417 shares of the company’s stock, valued at approximately $615,589.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John W. Kemper sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $67.65, for a total value of $297,660.00. Following the completion of the transaction, the chief executive officer now owns 187,677 shares of the company’s stock, valued at approximately $12,696,349.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 884 shares of Commerce Bancshares stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $65.37, for a total transaction of $57,787.08. Following the sale, the senior vice president now directly owns 9,417 shares of the company’s stock, valued at approximately $615,589.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,551 shares of company stock valued at $3,076,855. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $66.02 on Monday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.15 and a beta of 0.75. Commerce Bancshares, Inc. has a 1-year low of $59.81 and a 1-year high of $72.60. The company has a 50 day moving average price of $67.03 and a 200 day moving average price of $68.83.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $395.61 million. Commerce Bancshares had a net margin of 31.60% and a return on equity of 18.60%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.93 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Tuesday, March 7th will be paid a $0.27 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, March 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.64%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.54%.

Commerce Bancshares Profile

(Get Rating)

Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.