Boothbay Fund Management LLC Sells 5,023 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Boothbay Fund Management LLC trimmed its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 42.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,743 shares of the financial services provider's stock after selling 5,023 shares during the period. Boothbay Fund Management LLC's holdings in Commerce Bancshares were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Wealth Solutions Inc. lifted its stake in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock worth $689,000 after purchasing an additional 166 shares during the period. Canopy Partners LLC increased its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock valued at $225,000 after buying an additional 168 shares during the last quarter. Apriem Advisors raised its position in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock worth $238,000 after acquiring an additional 182 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock worth $244,000 after acquiring an additional 183 shares during the last quarter. Finally, Verde Capital Management grew its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 183 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Activity at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the transaction, the director now owns 3,175 shares in the company, valued at $192,786. This trade represents a 33.76 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Commerce Bancshares Stock Performance

Shares of CBSH traded up $0.43 during midday trading on Wednesday, hitting $62.45. 34,134 shares of the company traded hands, compared to its average volume of 586,917. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.13 and a beta of 0.60. The firm has a 50 day moving average of $60.55 and a 200-day moving average of $64.28. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio is presently 26.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CBSH shares. Keefe, Bruyette & Woods lowered their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. StockNews.com lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler upped their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Finally, Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of "Hold" and a consensus target price of $63.20.

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.