Commerce Bank Trims Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commerce Bank trimmed its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,960,645 shares of the financial services provider's stock after selling 28,514 shares during the period. Commerce Bancshares accounts for about 2.5% of Commerce Bank's investment portfolio, making the stock its 6th largest position. Commerce Bank owned approximately 5.40% of Commerce Bancshares worth $413,462,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CBSH. V Square Quantitative Management LLC bought a new position in Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP increased its position in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after buying an additional 192 shares during the period. Capital Performance Advisors LLP bought a new position in Commerce Bancshares in the 3rd quarter worth approximately $39,000. Bessemer Group Inc. increased its position in Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider's stock worth $45,000 after buying an additional 390 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider's stock worth $48,000 after purchasing an additional 521 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CBSH shares. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a "neutral" rating in a report on Friday, October 18th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.79.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP John K. Handy sold 1,331 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the firm's 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 owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,219 shares of company stock worth $2,126,803 over the last 90 days. Company insiders own 3.10% of the company's stock.

Commerce Bancshares Trading Down 1.3 %

CBSH stock traded down $0.90 during trading on Wednesday, hitting $70.70. The company had a trading volume of 166,195 shares, compared to its average volume of 531,655. The company has a market cap of $9.07 billion, a P/E ratio of 18.57, a P/E/G ratio of 3.89 and a beta of 0.73. The company has a fifty day moving average price of $62.86 and a two-hundred day moving average price of $60.02. Commerce Bancshares, Inc. has a fifty-two week low of $46.72 and a fifty-two week high of $73.31.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, analysts expect that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.53%. Commerce Bancshares's dividend payout ratio is 28.13%.

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.