Y Intercept Hong Kong Ltd Has $1.67 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Y Intercept Hong Kong Ltd cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 19.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,768 shares of the financial services provider's stock after selling 6,339 shares during the period. Y Intercept Hong Kong Ltd's holdings in Commerce Bancshares were worth $1,668,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC boosted its position in Commerce Bancshares by 5.0% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 13,796 shares of the financial services provider's stock worth $860,000 after purchasing an additional 655 shares during the period. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter worth $35,000. Peregrine Asset Advisers Inc. boosted its position in Commerce Bancshares by 5.0% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 25,192 shares of the financial services provider's stock worth $1,570,000 after purchasing an additional 1,199 shares during the period. Nicholson Wealth Management Group LLC boosted its position in Commerce Bancshares by 65.6% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 20,370 shares of the financial services provider's stock worth $1,269,000 after purchasing an additional 8,068 shares during the period. Finally, Mattern Capital Management LLC boosted its position in Commerce Bancshares by 1.8% during the 4th quarter. Mattern Capital Management LLC now owns 143,432 shares of the financial services provider's stock worth $8,937,000 after purchasing an additional 2,530 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the sale, the vice president now owns 22,175 shares of the company's stock, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock worth $5,771,192 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Commerce Bancshares Stock Up 1.5 %

NASDAQ:CBSH traded up $0.94 during trading hours on Friday, reaching $65.03. 755,846 shares of the company's stock were exchanged, compared to its average volume of 521,719. The company has a market capitalization of $8.71 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75. The business's 50-day simple moving average is $64.74 and its two-hundred day simple moving average is $64.50.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a $0.275 dividend. This is an increase from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.69%. Commerce Bancshares's dividend payout ratio is presently 27.43%.

Commerce Bancshares Company 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.