Ethic Inc. Sells 5,751 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Ethic Inc. decreased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 29.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,721 shares of the financial services provider's stock after selling 5,751 shares during the quarter. Ethic Inc.'s holdings in Commerce Bancshares were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Commerce Bancshares in the fourth quarter valued at about $86,327,000. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after acquiring an additional 642,401 shares in the last quarter. Aristotle Capital Management LLC grew its position in Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after acquiring an additional 351,406 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Commerce Bancshares by 31.8% during the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after purchasing an additional 310,443 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Stock Performance

CBSH opened at $65.45 on Thursday. The company has a fifty day moving average price of $60.66 and a two-hundred day moving average price of $64.37. The firm has a market capitalization of $8.73 billion, a PE ratio of 16.32, a P/E/G ratio of 2.13 and a beta of 0.60. 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 data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares of the company's stock, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.