Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 36.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 institutional investors also recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $26,000. CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter worth approximately $35,000. V Square Quantitative Management LLC lifted its holdings in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after purchasing an additional 268 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Down 2.8%

CBSH traded down $1.80 on Wednesday, hitting $63.19. 695,542 shares of the company were exchanged, compared to its average volume of 591,003. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The firm has a 50-day moving average price of $61.12 and a two-hundred day moving average price of $64.46.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Equities analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research analyst reports. StockNews.com lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday. Piper Sandler boosted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price target 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. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.20.

Insider Buying and Selling at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the 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 transaction, the director now owns 3,175 shares in the company, valued at approximately $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company's stock.

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.