Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Trimmed by Cerity Partners LLC

Cerity Partners LLC lowered its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,835 shares of the financial services provider's stock after selling 11,037 shares during the period. Cerity Partners LLC's holdings in Commerce Bancshares were worth $3,817,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CBSH. HighTower Advisors LLC raised its stake in Commerce Bancshares by 6.9% during the third quarter. HighTower Advisors LLC now owns 10,816 shares of the financial services provider's stock worth $644,000 after purchasing an additional 694 shares during the period. Jane Street Group LLC raised its position in shares of Commerce Bancshares by 94.3% in the 3rd quarter. Jane Street Group LLC now owns 80,167 shares of the financial services provider's stock worth $4,762,000 after buying an additional 38,909 shares during the period. MML Investors Services LLC boosted its holdings in Commerce Bancshares by 22.1% in the third quarter. MML Investors Services LLC now owns 9,902 shares of the financial services provider's stock valued at $588,000 after acquiring an additional 1,794 shares during the last quarter. Barclays PLC grew its position in Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after acquiring an additional 17,400 shares during the period. Finally, Geode Capital Management LLC increased its stake in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock worth $142,951,000 after acquiring an additional 163,782 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CBSH shares. Raymond James lowered Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday. Piper Sandler lifted their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares has an average rating of "Hold" and a consensus target price of $63.20.

Commerce Bancshares Stock Down 0.2 %

Shares of NASDAQ CBSH traded down $0.12 during trading on Friday, reaching $59.90. 978,228 shares of the stock were exchanged, compared to its average volume of 588,536. Commerce Bancshares, Inc. has a twelve month low of $49.81 and a twelve month high of $72.75. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. The business's 50-day moving average price is $61.68 and its 200 day moving average price is $64.07.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.275 per share. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, March 7th. Commerce Bancshares's dividend payout ratio is currently 27.43%.

Insiders Place Their Bets

In related news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction dated 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 sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John K. Handy sold 2,722 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $66.68, for a total transaction of $181,502.96. Following the transaction, the executive vice president now directly owns 39,638 shares of the company's stock, valued at $2,643,061.84. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,434 shares of company stock valued at $5,248,272. Company insiders own 3.10% of the company's stock.

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.