Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Novem Group

Novem Group grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,663 shares of the financial services provider's stock after acquiring an additional 4,344 shares during the period. Novem Group's holdings in Commerce Bancshares were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Canopy Partners LLC grew its stake in shares of Commerce Bancshares by 4.9% in the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock worth $225,000 after acquiring an additional 168 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of Commerce Bancshares by 4.9% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider's stock worth $249,000 after purchasing an additional 186 shares in the last quarter. Angeles Investment Advisors LLC grew its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider's stock worth $254,000 after purchasing an additional 194 shares in the last quarter. Strategy Asset Managers LLC grew its stake in shares of Commerce Bancshares by 4.0% during the fourth quarter. Strategy Asset Managers LLC now owns 5,704 shares of the financial services provider's stock worth $355,000 after purchasing an additional 218 shares in the last quarter. Finally, TIAA Trust National Association grew its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. TIAA Trust National Association now owns 4,757 shares of the financial services provider's stock worth $296,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Transactions 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 transaction of $98,244.96. Following the completion of the transaction, the director owned 3,175 shares of the company's stock, 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 is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their price objective 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. Keefe, Bruyette & Woods lowered their price objective 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. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Morgan Stanley raised their price target on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Finally, Bank of America raised their price target on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.60.

Commerce Bancshares Price Performance

Shares of CBSH traded up $0.37 during mid-day trading on Monday, hitting $64.93. The company's stock had a trading volume of 967,609 shares, compared to its average volume of 614,984. 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 50-day simple moving average of $62.89 and a 200 day simple moving average of $62.75. The firm has a market capitalization of $8.66 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.85 and a beta of 0.59. Commerce Bancshares, Inc. has a 1-year low of $52.57 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. Analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.69%. Commerce Bancshares's dividend payout ratio is presently 26.63%.

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.