Hsbc Holdings PLC Trims Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Hsbc Holdings PLC decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 80.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,586 shares of the financial services provider's stock after selling 18,577 shares during the quarter. Hsbc Holdings PLC's holdings in Commerce Bancshares were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares during the 4th quarter worth $35,000. V Square Quantitative Management LLC raised its holdings in shares of Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after acquiring an additional 268 shares during the period. Finally, Transce3nd LLC bought a new position in Commerce Bancshares during the 4th quarter worth about $68,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CBSH shares. Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. StockNews.com cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Piper Sandler raised their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, Commerce Bancshares has an average rating of "Hold" and a consensus target price of $63.20.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $63.43 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The company has a market cap of $8.50 billion, a PE ratio of 15.82, a P/E/G ratio of 2.13 and a beta of 0.60. The business has a 50-day simple moving average of $60.47 and a two-hundred day simple moving average of $64.29.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.73%. Commerce Bancshares's payout ratio is presently 26.63%.

Insider Activity

In related news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares in the company, valued at $192,786. The trade was a 33.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company's stock.

Commerce Bancshares Profile

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.

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