Amalgamated Bank Sells 11,670 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amalgamated Bank trimmed its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 17.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,051 shares of the financial services provider's stock after selling 11,670 shares during the quarter. Amalgamated Bank's holdings in Commerce Bancshares were worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in Commerce Bancshares during the third quarter worth about $3,967,000. Farther Finance Advisors LLC lifted its position in shares of 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 acquiring an additional 287 shares during the period. Financial Advocates Investment Management grew its holdings in shares of Commerce Bancshares by 1.5% during the 3rd quarter. Financial Advocates Investment Management now owns 15,904 shares of the financial services provider's stock worth $945,000 after purchasing an additional 241 shares in the last quarter. Sound Stewardship LLC increased its position in shares of Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 163 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Commerce Bancshares by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 13,747 shares of the financial services provider's stock valued at $816,000 after purchasing an additional 920 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP John K. Handy sold 1,331 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total value of $84,917.80. Following the completion of the sale, the executive vice president now directly owns 41,548 shares of the company's stock, valued at $2,650,762.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,831 shares of company stock worth $2,154,008. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Performance

Commerce Bancshares stock traded up $1.48 during trading hours on Friday, hitting $69.45. 560,016 shares of the stock were exchanged, compared to its average volume of 659,683. The stock has a market capitalization of $8.91 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.76 and a beta of 0.73. The business's 50-day moving average is $61.55 and its two-hundred day moving average is $59.21. Commerce Bancshares, Inc. has a 12 month low of $42.48 and a 12 month high of $70.02.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. On average, equities analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.56%. Commerce Bancshares's dividend payout ratio (DPR) is 28.13%.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of recent research reports. Morgan Stanley downgraded shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a "neutral" rating in a research note on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, July 22nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.79.

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.