Commerce Bancshares, Inc. (NASDAQ:CBSH) Holdings Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,489 shares of the financial services provider's stock after selling 14,017 shares during the quarter. Nuveen Asset Management LLC owned 0.26% of Commerce Bancshares worth $20,468,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CBSH. Barclays PLC raised its holdings in shares of Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after buying an additional 17,400 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $206,000. Crossmark Global Holdings Inc. raised its holdings in shares of Commerce Bancshares by 4.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 7,972 shares of the financial services provider's stock valued at $497,000 after buying an additional 367 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Commerce Bancshares by 5.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,326 shares of the financial services provider's stock valued at $581,000 after buying an additional 442 shares during the period. Finally, XML Financial LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $216,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Up 0.2%

Shares of CBSH traded up $0.10 during mid-day trading on Thursday, hitting $62.79. The stock had a trading volume of 116,248 shares, compared to its average volume of 593,145. The company has a market cap of $8.38 billion, a PE ratio of 15.69, a PEG ratio of 2.13 and a beta of 0.60. The company's fifty day simple moving average is $61.30 and its two-hundred day simple moving average is $64.32. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75.

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

Commerce Bancshares Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on CBSH. Keefe, Bruyette & Woods dropped their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company dropped their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Finally, Piper Sandler raised their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Commerce Bancshares has a consensus rating of "Hold" and a consensus target price 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.