Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its holdings 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 & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CBSH. Allspring Global Investments Holdings LLC purchased a new stake in Commerce Bancshares during the 1st quarter valued at about $1,855,000. Integrated Wealth Concepts LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter valued at about $842,000. GAMMA Investing LLC grew its holdings in shares of Commerce Bancshares by 64.9% in the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 739 shares during the period. Vanguard Group Inc. increased its position in Commerce Bancshares by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. Finally, Novem Group raised its stake in Commerce Bancshares by 35.3% during the first quarter. Novem Group now owns 16,663 shares of the financial services provider's stock worth $1,037,000 after purchasing an additional 4,344 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America upped their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley increased their price target on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Keefe, Bruyette & Woods reduced 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 report on Thursday, April 17th. Piper Sandler boosted their price objective on shares of Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. 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, Commerce Bancshares has a consensus rating of "Hold" and a consensus price target of $68.20.

Insider Activity

In other 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 transaction of $98,244.96. Following the sale, the director owned 3,175 shares in the company, valued at $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Down 0.1%

Shares of Commerce Bancshares stock traded down $0.06 during trading on Tuesday, hitting $64.24. 645,006 shares of the company were exchanged, compared to its average volume of 620,375. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The firm has a 50 day moving average price of $63.37 and a 200 day moving average price of $62.88. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 2.97 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%. The business had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same quarter last year, the company earned $1.02 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. 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 was paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.71%. Commerce Bancshares's dividend payout ratio (DPR) is 26.19%.

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.