Trust Point Inc. Decreases Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Trust Point Inc. trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 56.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,266 shares of the financial services provider's stock after selling 5,626 shares during the period. Trust Point Inc.'s holdings in Commerce Bancshares were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CBSH. Norges Bank purchased a new position in Commerce Bancshares in the 4th quarter worth approximately $86,327,000. American Century Companies Inc. increased its stake in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after buying an additional 745,661 shares during the period. Vanguard Group Inc. increased its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after buying an additional 642,401 shares during the period. Aristotle Capital Management LLC raised its holdings in Commerce Bancshares by 4.3% during 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 position in Commerce Bancshares by 31.8% during 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 period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CBSH shares. Piper Sandler increased their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley raised their price target on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of "Hold" and an average price target of $63.80.

Insider Transactions at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now owns 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company's stock.

Commerce Bancshares Trading Down 0.9%

NASDAQ CBSH opened at $60.28 on Wednesday. The stock's 50 day moving average is $62.04 and its 200 day moving average is $63.28. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.04 billion, a PE ratio of 14.60, a P/E/G ratio of 4.02 and a beta of 0.60. Commerce Bancshares, Inc. has a twelve month low of $50.60 and a twelve month high of $72.75.

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

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.82%. Commerce Bancshares's payout ratio is 26.63%.

Commerce Bancshares 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.

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