AlphaQuest LLC Trims Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

AlphaQuest LLC lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,970 shares of the financial services provider's stock after selling 5,953 shares during the period. AlphaQuest LLC's holdings in Commerce Bancshares were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CBSH. Farther Finance Advisors LLC increased its stake in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock worth $52,000 after buying an additional 287 shares during the period. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares in the 3rd quarter worth about $39,000. Atria Investments Inc increased its stake in Commerce Bancshares by 9.3% in the 3rd quarter. Atria Investments Inc now owns 24,455 shares of the financial services provider's stock worth $1,453,000 after buying an additional 2,071 shares during the period. Los Angeles Capital Management LLC increased its stake in Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider's stock worth $21,556,000 after buying an additional 358,066 shares during the period. Finally, Keystone Financial Services purchased a new position in Commerce Bancshares in the 3rd quarter worth about $215,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Activity

In related news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the transaction, the chief executive officer now directly owns 211,929 shares of the company's stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the completion of the transaction, the senior vice president now directly owns 21,265 shares of the company's stock, valued at $1,439,427.85. The trade was a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,016 shares of company stock worth $5,422,811. Corporate insiders own 3.20% of the company's stock.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $62.22 on Monday. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.33 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.13 and a beta of 0.78. The company's 50-day simple moving average is $64.72 and its 200-day simple moving average is $64.60.

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Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. During the same period last year, the business earned $0.84 EPS. The company's revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, March 7th. Commerce Bancshares's dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analyst Weigh In

Several research firms recently commented on CBSH. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Piper Sandler increased their target price 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. Wells Fargo & Company increased their target price 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.

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