Boston Trust Walden Corp Sells 13,358 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Boston Trust Walden Corp trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 0.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,455,496 shares of the financial services provider's stock after selling 13,358 shares during the period. Boston Trust Walden Corp owned approximately 1.09% of Commerce Bancshares worth $90,575,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBSH. 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 4th quarter worth about $33,000. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $35,000. Nomura Asset Management Co. Ltd. increased its position in Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at about $68,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Trading Up 0.5%

Shares of NASDAQ:CBSH traded up $0.31 during trading on Friday, hitting $60.74. 1,102,050 shares of the company's stock were exchanged, compared to its average volume of 605,092. Commerce Bancshares, Inc. has a 1-year low of $50.65 and a 1-year high of $72.75. The firm has a 50-day moving average price of $62.23 and a two-hundred day moving average price of $63.12. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.10 billion, a P/E ratio of 14.71, a PEG ratio of 4.00 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 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. The company had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, May 1st. The shares were 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 of the company's stock, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CBSH has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Piper Sandler raised their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley raised their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $63.80.

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.