Speece Thorson Capital Group Inc. Has $14.39 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Speece Thorson Capital Group Inc. lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 231,232 shares of the financial services provider's stock after selling 3,957 shares during the quarter. Commerce Bancshares accounts for 3.0% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 15th biggest position. Speece Thorson Capital Group Inc. owned approximately 0.17% of Commerce Bancshares worth $14,390,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CBSH. Norges Bank acquired a new position in Commerce Bancshares during the 4th quarter worth approximately $86,327,000. American Century Companies Inc. boosted its holdings in shares of Commerce Bancshares by 25.5% in the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after buying an additional 745,661 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after buying an additional 642,401 shares during the last quarter. Aristotle Capital Management LLC boosted its holdings in shares of Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock valued at $533,777,000 after buying an additional 351,406 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Commerce Bancshares by 31.8% in the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after buying an additional 310,443 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Stock Down 1.0%

CBSH opened at $65.45 on Friday. Commerce Bancshares, Inc. has a 1-year low of $52.69 and a 1-year high of $72.75. The stock's fifty day simple moving average is $63.21 and its 200 day simple moving average is $62.82. 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 stock has a market cap of $8.73 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.89 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The business had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. As a group, research analysts expect 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. Shareholders of record on Friday, June 6th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Bank of America increased 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. Wells Fargo & Company increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday. Piper Sandler increased their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Finally, Morgan Stanley increased their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $66.00.

Insiders Place Their Bets

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the 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 transaction, the director owned 3,175 shares in the company, valued at $192,786. This trade represents 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. 3.10% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.