Morton Community Bank Has $335,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Morton Community Bank cut its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,004 shares of the financial services provider’s stock after selling 304 shares during the quarter. Morton Community Bank’s holdings in Commerce Bancshares were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBSH. Clarity Asset Management Inc. bought a new stake in Commerce Bancshares during the fourth quarter worth about $43,000. Bessemer Group Inc. boosted its position in shares of Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares in the last quarter. GAMMA Investing LLC increased its stake in Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares during the last quarter. Eagle Bay Advisors LLC raised its position in Commerce Bancshares by 2,864.7% during the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 974 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 805 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the sale, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the completion of the sale, the director now directly owns 997,112 shares in the company, valued at $63,476,149.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the completion of the transaction, the executive vice president now directly owns 50,293 shares in the company, valued at $3,256,471.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,612 shares of company stock worth $3,060,149. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Down 1.7 %

Shares of CBSH stock traded down $1.06 during trading hours on Friday, hitting $61.24. 391,721 shares of the company’s stock traded hands, compared to its average volume of 512,729. The stock has a market cap of $7.93 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 10.46 and a beta of 0.75. The stock’s 50 day simple moving average is $61.13 and its 200 day simple moving average is $56.33. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.96 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 30.08%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CBSH shares. Wells Fargo & Company lifted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley boosted their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.