Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Cut by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 47.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,635 shares of the financial services provider’s stock after selling 10,348 shares during the quarter. SG Americas Securities LLC’s holdings in Commerce Bancshares were worth $691,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after acquiring an additional 168,550 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Commerce Bancshares by 0.5% during the second quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after purchasing an additional 3,391 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Up 2.6 %

NASDAQ:CBSH opened at $59.90 on Monday. The firm has a market capitalization of $7.72 billion, a PE ratio of 16.26, a PEG ratio of 2.93 and a beta of 0.74. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The firm’s fifty day simple moving average is $61.00 and its 200 day simple moving average is $57.81.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.92 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.80%. Commerce Bancshares’s dividend payout ratio is 29.31%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total value of $55,362.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $1,990,020.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Charles G. Kim sold 5,282 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the completion of the transaction, the chief financial officer now directly owns 89,472 shares in the company, valued at approximately $5,815,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David L. Roller sold 861 shares of Commerce Bancshares stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the sale, the senior vice president now owns 30,949 shares in the company, valued at $1,990,020.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,612 shares of company stock worth $3,184,609. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CBSH. StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.71.

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.