Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Reduced by Financial Counselors Inc.

Financial Counselors Inc. decreased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 155,356 shares of the financial services provider’s stock after selling 2,714 shares during the quarter. Financial Counselors Inc.’s holdings in Commerce Bancshares were worth $9,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Commerce Bancshares during the second quarter worth approximately $1,226,000. Marshall Financial Group LLC acquired a new position in Commerce Bancshares in the second quarter worth approximately $1,006,000. Tidal Investments LLC grew its position in Commerce Bancshares by 181.3% in the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock worth $953,000 after buying an additional 11,540 shares during the last quarter. Cetera Investment Advisers grew its position in Commerce Bancshares by 138.3% in the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after buying an additional 18,496 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Commerce Bancshares in the second quarter worth approximately $436,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $73.88 on Friday. The business’s 50-day simple moving average is $64.22 and its 200-day simple moving average is $60.70. The firm has a market capitalization of $9.47 billion, a PE ratio of 19.24, a PEG ratio of 3.99 and a beta of 0.73. Commerce Bancshares, Inc. has a 52 week low of $47.19 and a 52 week high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) 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 business 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%. Research analysts forecast that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analyst Ratings Changes

Several research analysts have issued reports on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. 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. Finally, Morgan Stanley lowered 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 report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $61.79.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated 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 of the company’s stock, valued at $1,454,999.63. This trade represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,109 shares of company stock valued at $2,191,123 over the last three months. 3.20% of the stock is owned by corporate insiders.

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.