Mutual of America Capital Management LLC Has $3.77 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mutual of America Capital Management LLC lessened its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,492 shares of the financial services provider’s stock after selling 3,090 shares during the period. Mutual of America Capital Management LLC’s holdings in Commerce Bancshares were worth $3,765,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Clarity Asset Management Inc. acquired a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $43,000. Bessemer Group Inc. increased its holdings in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 390 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 521 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 974 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Commerce Bancshares by 93.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after buying an additional 805 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Down 2.9 %

Shares of CBSH opened at $61.90 on Monday. The stock has a market capitalization of $8.02 billion, a PE ratio of 17.24, a P/E/G ratio of 10.29 and a beta of 0.75. The firm’s 50 day moving average is $62.28 and its 200-day moving average is $57.05. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.74%. Commerce Bancshares’s dividend payout ratio is 30.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBSH shares. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group upped their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley lifted their price target on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Insider Buying and Selling at Commerce Bancshares

In other news, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $60.82, for a total transaction of $91,230.00. Following the completion of the transaction, the senior vice president now owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total value of $336,274.32. Following the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The disclosure for this sale can be found here. Insiders have sold a total of 49,612 shares of company stock valued at $3,184,609 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

About Commerce Bancshares

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.