Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Lessened by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning decreased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 34.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,478 shares of the financial services provider’s stock after selling 3,363 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Commerce Bancshares were worth $345,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of Commerce Bancshares in the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV bought a new position in Commerce Bancshares during the fourth quarter valued at about $35,000. Clarity Asset Management Inc. bought a new position in Commerce Bancshares during the fourth quarter valued at about $43,000. Exchange Traded Concepts LLC bought a new position in Commerce Bancshares during the fourth quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after buying an additional 805 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,581 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the completion of the sale, the chief executive officer now directly owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Commerce Bancshares Trading Down 0.7 %

Shares of Commerce Bancshares stock opened at $55.47 on Thursday. The stock has a 50-day moving average price of $55.11 and a 200 day moving average price of $53.51. The company has a market cap of $7.19 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.82 and a beta of 0.76. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $57.48.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.57 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler raised their target price on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Jefferies Financial Group raised their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $56.71.

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.