Hsbc Holdings PLC Has $1.30 Million Holdings in Commerce Bancshares, Inc. $CBSH

Key Points

• Hsbc Holdings PLC increased its stake in Commerce Bancshares, Inc. by 358.2% in Q1, acquiring an additional 16,425 shares for a total of 21,011 shares valued at approximately $1.3 million.
• Commerce Bancshares reported $1.14 earnings per share for the last quarter, exceeding analysts' expectations of $1.02, and experienced a 7.6% year-over-year revenue growth.
• The company has announced a quarterly dividend of $0.275 per share, which will be paid on September 23rd, representing a 1.8% dividend yield.

Hsbc Holdings PLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 358.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,011 shares of the financial services provider's stock after purchasing an additional 16,425 shares during the period. Hsbc Holdings PLC's holdings in Commerce Bancshares were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBSH. Invesco Ltd. lifted its holdings in Commerce Bancshares by 136.0% during the 1st quarter. Invesco Ltd. now owns 848,442 shares of the financial services provider's stock worth $52,799,000 after buying an additional 488,960 shares in the last quarter. Nuveen LLC acquired a new position in Commerce Bancshares during the 1st quarter worth $21,995,000. Aristotle Capital Management LLC lifted its holdings in Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after buying an additional 351,406 shares in the last quarter. Northern Trust Corp lifted its holdings in Commerce Bancshares by 31.8% during the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock worth $80,161,000 after buying an additional 310,443 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider's stock worth $839,716,000 after buying an additional 268,250 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

CBSH traded down $0.92 during mid-day trading on Wednesday, hitting $61.32. The stock had a trading volume of 966,715 shares, compared to its average volume of 668,420. The stock's fifty day simple moving average is $62.58 and its 200-day simple moving average is $62.11. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.61. Commerce Bancshares, Inc. has a 1-year low of $52.69 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.12. The company had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $0.275 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 1.8%. Commerce Bancshares's dividend payout ratio (DPR) is 26.19%.

Analyst Ratings Changes

Several research analysts have issued reports on CBSH shares. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Morgan Stanley upped their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Bank of America upped their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Zacks Research lowered shares of Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Finally, Piper Sandler lifted their target price on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $68.20.

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.