Hsbc Holdings PLC Cuts Position in Commerce Bancshares, Inc. $CBSH

Hsbc Holdings PLC decreased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 61.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,746 shares of the financial services provider’s stock after selling 149,483 shares during the quarter. Hsbc Holdings PLC’s holdings in Commerce Bancshares were worth $4,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares in the last quarter. Verition Fund Management LLC boosted its position in Commerce Bancshares by 39.8% in the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after buying an additional 179,894 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Commerce Bancshares by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock valued at $147,097,000 after acquiring an additional 174,863 shares in the last quarter. Mattern Capital Management LLC grew its stake in shares of Commerce Bancshares by 14.4% during the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock valued at $8,443,000 after acquiring an additional 20,277 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC purchased a new stake in shares of Commerce Bancshares during the first quarter worth about $3,390,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.8%

NASDAQ:CBSH opened at $59.09 on Friday. The firm has a market capitalization of $8.61 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.10 and a beta of 0.58. The business has a 50 day simple moving average of $55.62 and a 200 day simple moving average of $53.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period in the previous year, the business posted $1.14 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on CBSH shares. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Morgan Stanley restated a “positive” rating and set a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. TD Cowen restated a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $62.43.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.