Y Intercept Hong Kong Ltd Makes New $1.45 Million Investment in Commerce Bancshares, Inc. $CBSH

Y Intercept Hong Kong Ltd acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,338 shares of the financial services provider’s stock, valued at approximately $1,451,000.

Other large investors have also recently bought and sold shares of the company. HB Wealth Management LLC boosted its stake in shares of Commerce Bancshares by 4.5% in the 2nd quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 174 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Commerce Bancshares by 0.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider’s stock valued at $2,128,000 after purchasing an additional 175 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 190 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Commerce Bancshares by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider’s stock valued at $1,815,000 after purchasing an additional 200 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC boosted its stake in shares of Commerce Bancshares by 1.0% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 20,926 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 214 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research analyst reports. Hovde Group initiated coverage on shares of Commerce Bancshares in a research note on Monday, October 6th. They issued an “outperform” rating and a $70.00 price target on the stock. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Morgan Stanley raised their price target on shares of Commerce Bancshares from $66.00 to $70.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. TD Cowen initiated coverage on shares of Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $63.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.29.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $52.63 on Monday. The company has a 50 day simple moving average of $58.23 and a 200 day simple moving average of $61.00. The firm has a market cap of $7.02 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 4.71 and a beta of 0.59. Commerce Bancshares, Inc. has a 1 year low of $51.64 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The business had revenue of $440.97 million during the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is 26.25%.

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.