Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 93.8% in the 3rd quarter, according to the company in its most recent 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 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its holdings in Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after buying an additional 168,550 shares during the last quarter. Sei Investments Co. raised its stake in Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock worth $34,846,000 after acquiring an additional 3,391 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Commerce Bancshares by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider’s stock worth $31,653,000 after acquiring an additional 13,772 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.5 %

Shares of CBSH stock opened at $73.96 on Wednesday. The company has a market capitalization of $9.48 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 3.98 and a beta of 0.73. The business’s 50 day moving average is $63.76 and its two-hundred day moving average is $60.48. Commerce Bancshares, Inc. has a twelve month low of $47.19 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.46%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.79.

Insider Buying and Selling

In related news, EVP John K. Handy sold 1,331 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David L. Roller sold 890 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,109 shares of company stock valued at $2,191,123 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

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.