Y Intercept Hong Kong Ltd Sells 6,339 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Y Intercept Hong Kong Ltd lowered its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Commerce Bancshares in the 3rd quarter worth about $566,000. Procyon Advisors LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $200,000. Centiva Capital LP bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $581,000. PFW Advisors LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $1,336,000. Finally, Barclays PLC lifted its position in Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH opened at $64.24 on Wednesday. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The stock has a market capitalization of $8.24 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The stock’s 50 day moving average price is $64.67 and its 200-day moving average price is $64.47.

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

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.71%. Commerce Bancshares’s payout ratio is 27.43%.

Insider Activity at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the sale, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock worth $5,771,192 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.