Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. lowered its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,093 shares of the financial services provider’s stock after selling 542 shares during the period. Commerce Bancshares makes up approximately 2.5% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 20th biggest holding. Speece Thorson Capital Group Inc. owned about 0.17% of Commerce Bancshares worth $13,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CBSH. Los Angeles Capital Management LLC increased its holdings in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after purchasing an additional 358,066 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares during the period. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares during the period. American Century Companies Inc. increased its holdings in shares of Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after purchasing an additional 214,582 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in 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. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average target price of $61.79.

Insider Transactions at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,331 shares of company stock valued at $2,062,778 over the last three months. 3.10% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

CBSH traded up $0.53 during trading on Wednesday, reaching $72.79. 33,516 shares of the stock were exchanged, compared to its average volume of 532,406. The business’s 50 day moving average price is $61.88 and its two-hundred day moving average price is $59.45. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 3.89 and a beta of 0.73. Commerce Bancshares, Inc. has a 1 year low of $44.48 and a 1 year high of $73.29.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.48%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

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.