Meeder Asset Management Inc. Has $625,000 Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Meeder Asset Management Inc. trimmed its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 54.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,033 shares of the financial services provider's stock after selling 11,836 shares during the period. Meeder Asset Management Inc.'s holdings in Commerce Bancshares were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CBSH. CoreFirst Bank & Trust bought a new position in Commerce Bancshares during the fourth quarter valued at about $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter valued at about $35,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $47,000. V Square Quantitative Management LLC boosted its position in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after purchasing an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity

In other Commerce Bancshares news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the sale, the chief executive officer now directly owns 211,929 shares of the company's stock, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the transaction, the senior vice president now directly owns 18,688 shares of the company's stock, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded down $2.22 during mid-day trading on Friday, hitting $55.42. The company had a trading volume of 806,870 shares, compared to its average volume of 580,721. Commerce Bancshares, Inc. has a 12 month low of $48.49 and a 12 month high of $72.75. The firm has a market cap of $7.43 billion, a P/E ratio of 13.82, a PEG ratio of 2.13 and a beta of 0.71. The business's 50-day simple moving average is $63.74 and its 200-day simple moving average is $64.38.

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

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's payout ratio is 27.43%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CBSH shares. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. Piper Sandler upped their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley lowered their price target on Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating on the stock in a research report on Thursday, March 13th. Raymond James downgraded Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $68.17.

Commerce Bancshares Company 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.