Trexquant Investment LP Has $260,000 Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Trexquant Investment LP cut its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 84.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,174 shares of the financial services provider's stock after selling 22,362 shares during the quarter. Trexquant Investment LP's holdings in Commerce Bancshares were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $33,000. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $35,000. V Square Quantitative Management LLC lifted its holdings in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after purchasing an additional 361 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the period. Finally, GAMMA Investing LLC increased its position in Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock worth $71,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Price Performance

Shares of CBSH traded down $0.12 during mid-day trading on Friday, hitting $59.90. The company's stock had a trading volume of 978,228 shares, compared to its average volume of 588,818. The firm has a 50-day moving average price of $61.53 and a 200 day moving average price of $64.09. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.13 and a beta of 0.71.

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 (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.275 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analyst Weigh In

CBSH has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.20.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the transaction, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the completion of the sale, the executive vice president now owns 45,511 shares of the company's stock, valued at $3,006,456.66. The trade was a 35.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,434 shares of company stock worth $5,248,272. Company insiders own 3.10% of the company's stock.

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.