Commerce Bancshares, Inc. $CBSH Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its Commerce Bancshares stake by 61% in the first quarter, selling 149,483 shares and ending with 95,746 shares valued at about $4.7 million.
• Commerce Bancshares shares were up 0.8% to $59.09, near their 52-week high of $60.76, while institutional investors still own about 70.26% of the stock.
• The company beat earnings expectations in its latest quarter, reporting $1.10 EPS versus $1.04 expected, and analysts currently rate the stock a Hold with an average price target of $62.43.

Hsbc Holdings PLC cut its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 61.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,746 shares of the financial services provider's stock after selling 149,483 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Commerce Bancshares worth $4,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Apriem Advisors boosted its holdings in Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock worth $210,000 after buying an additional 191 shares in the last quarter. Heartland Bank & Trust Co grew its position in shares of Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC increased its stake in shares of Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 214 shares in the last quarter. Elser Financial Planning Inc raised its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider's stock worth $237,000 after purchasing an additional 215 shares during the period. Finally, Centerpoint Advisory Group boosted its position in Commerce Bancshares by 5.0% during the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider's stock worth $237,000 after purchasing an additional 215 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.8%

NASDAQ:CBSH opened at $59.09 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average is $55.62 and its two-hundred day moving average is $53.03. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.76. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million during the quarter, compared to analysts' expectations of $492.22 million. During the same quarter in the previous year, the business posted $1.14 earnings per share. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several research reports. Weiss Ratings upgraded Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an "equal weight" rating in a research report on Friday, July 17th. Wells Fargo & Company raised their target price on Commerce Bancshares from $53.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a "market perform" rating in a research note on Monday, July 20th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $62.43.

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.

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