Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Reduced by Natixis Advisors LLC

Natixis Advisors LLC trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 93.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,090 shares of the financial services provider's stock after selling 257,224 shares during the quarter. Natixis Advisors LLC's holdings in Commerce Bancshares were worth $1,015,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Commerce Bancshares in the second quarter worth $1,226,000. Marshall Financial Group LLC purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $1,006,000. Tidal Investments LLC lifted its stake in shares of Commerce Bancshares by 181.3% during the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider's stock valued at $953,000 after buying an additional 11,540 shares during the period. Cetera Investment Advisers boosted its position in Commerce Bancshares by 138.3% during the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider's stock worth $1,696,000 after acquiring an additional 18,496 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Commerce Bancshares in the 2nd quarter valued at $436,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CBSH shares. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $61.79.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the transaction, the senior vice president now owns 8,038 shares of the company's stock, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock valued at $2,191,123 in the last ninety days. Insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded down $0.08 during midday trading on Wednesday, hitting $73.88. 516,421 shares of the company's stock traded hands, compared to its average volume of 533,450. Commerce Bancshares, Inc. has a twelve month low of $47.19 and a twelve month high of $76.39. The company has a market cap of $9.47 billion, a PE ratio of 19.35, a P/E/G ratio of 4.02 and a beta of 0.73. The firm's fifty day moving average price is $64.00 and its two-hundred day moving average price is $60.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $412.85 million. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Commerce Bancshares's payout ratio is currently 28.13%.

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.