Stephens Inc. AR Lowers Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Stephens Inc. AR cut its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,491 shares of the financial services provider's stock after selling 3,942 shares during the period. Stephens Inc. AR's holdings in Commerce Bancshares were worth $466,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Canopy Partners LLC boosted its stake in Commerce Bancshares by 4.9% during the 4th quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 168 shares during the last quarter. Angeles Investment Advisors LLC boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 194 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Commerce Bancshares by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider's stock worth $1,815,000 after buying an additional 200 shares during the last quarter. Strategy Asset Managers LLC boosted its stake in shares of Commerce Bancshares by 4.0% in the 4th quarter. Strategy Asset Managers LLC now owns 5,704 shares of the financial services provider's stock worth $355,000 after buying an additional 218 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. TIAA Trust National Association now owns 4,757 shares of the financial services provider's stock worth $296,000 after buying an additional 227 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.6%

Shares of CBSH traded up $0.36 during trading hours on Friday, reaching $64.63. 1,375,221 shares of the stock traded hands, compared to its average volume of 621,416. Commerce Bancshares, Inc. has a 52-week low of $52.69 and a 52-week high of $72.75. The company has a market cap of $8.62 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 2.79 and a beta of 0.59. The company's 50-day moving average price is $63.37 and its two-hundred day moving average price is $62.87.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.12. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. During the same period last year, the company posted $1.02 EPS. The business's revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.70%. Commerce Bancshares's dividend payout ratio 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 shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director directly owned 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CBSH shares. Morgan Stanley boosted their target price on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Keefe, Bruyette & Woods cut their target price 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. Piper Sandler restated a "neutral" rating and issued a $70.00 target price (up previously from $66.50) on shares of Commerce Bancshares in a research note on Thursday. Wells Fargo & Company boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Bank of America lifted their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $66.80.

About Commerce Bancshares

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.