Y Intercept Hong Kong Ltd Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Y Intercept Hong Kong Ltd bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 33,107 shares of the financial services provider's stock, valued at approximately $1,967,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its holdings in Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider's stock valued at $1,724,000 after purchasing an additional 154 shares during the period. Sound Stewardship LLC grew its stake in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 163 shares during the period. Allworth Financial LP increased its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after acquiring an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider's stock worth $374,000 after acquiring an additional 217 shares during the period. Finally, Marshall Financial Group LLC lifted its holdings in Commerce Bancshares by 1.2% during the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider's stock valued at $1,084,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Performance

NASDAQ:CBSH remained flat at $68.33 during trading hours on Wednesday. The company's stock had a trading volume of 370,212 shares, compared to its average volume of 555,501. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The firm has a market capitalization of $8.76 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.74 and a beta of 0.77. The business's 50-day moving average price is $65.98 and its 200-day moving average price is $61.61.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts' expectations of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.98 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio is presently 28.13%.

Analyst Ratings Changes

A number of research firms have recently commented on CBSH. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a "neutral" rating in a research note on Friday, October 18th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $65.07.

Insiders Place Their Bets

In related news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares of the company's stock, valued at approximately $71,170,189.32. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the sale, the senior vice president now directly owns 22,265 shares in the company, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,816 shares of company stock valued at $2,454,586 over the last quarter. 3.10% of the stock is owned by insiders.

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.