BNP Paribas Financial Markets Lowers Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

BNP Paribas Financial Markets lessened its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,980 shares of the financial services provider's stock after selling 18,747 shares during the period. BNP Paribas Financial Markets' holdings in Commerce Bancshares were worth $2,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in Commerce Bancshares by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 620,590 shares of the financial services provider's stock valued at $38,662,000 after acquiring an additional 33,679 shares during the last quarter. Algert Global LLC bought a new stake in shares of Commerce Bancshares during the fourth quarter worth about $731,000. Aristotle Capital Management LLC grew its holdings in shares of Commerce Bancshares by 4.3% during the fourth quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after purchasing an additional 351,406 shares during the last quarter. FAS Wealth Partners Inc. grew its holdings in shares of Commerce Bancshares by 5.3% during the fourth quarter. FAS Wealth Partners Inc. now owns 15,378 shares of the financial services provider's stock worth $958,000 after purchasing an additional 777 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Commerce Bancshares by 1.3% during the fourth quarter. Comerica Bank now owns 53,939 shares of the financial services provider's stock worth $3,361,000 after purchasing an additional 693 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 0.7%

CBSH traded down $0.47 during trading on Friday, hitting $62.76. The company's stock had a trading volume of 484,581 shares, compared to its average volume of 593,401. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The stock's fifty day moving average price is $61.21 and its 200-day moving average price is $64.45. The firm has a market capitalization of $8.37 billion, a P/E ratio of 15.65, a PEG ratio of 2.13 and a beta of 0.60.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Insider Transactions at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the transaction, the director now directly owns 3,175 shares of the company's stock, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Wall Street Zen lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday. Piper Sandler lifted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Commerce Bancshares currently has a consensus rating of "Hold" and a consensus 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.