Telemus Capital LLC Has $460,000 Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Telemus Capital LLC decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,618 shares of the financial services provider’s stock after selling 2,591 shares during the quarter. Telemus Capital LLC’s holdings in Commerce Bancshares were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CBSH. Boston Trust Walden Corp lifted its position in Commerce Bancshares by 6.7% in the 4th quarter. Boston Trust Walden Corp now owns 1,094,108 shares of the financial services provider’s stock valued at $58,436,000 after acquiring an additional 68,245 shares in the last quarter. Cooke & Bieler LP increased its holdings in Commerce Bancshares by 32.4% during the 4th quarter. Cooke & Bieler LP now owns 972,255 shares of the financial services provider’s stock worth $51,928,000 after purchasing an additional 237,703 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Commerce Bancshares by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 883,380 shares of the financial services provider’s stock worth $42,385,000 after purchasing an additional 36,554 shares in the last quarter. Schroder Investment Management Group increased its holdings in Commerce Bancshares by 12.4% during the 3rd quarter. Schroder Investment Management Group now owns 618,515 shares of the financial services provider’s stock worth $29,676,000 after purchasing an additional 68,256 shares in the last quarter. Finally, Mutual Advisors LLC increased its holdings in Commerce Bancshares by 7.1% during the 4th quarter. Mutual Advisors LLC now owns 446,503 shares of the financial services provider’s stock worth $23,848,000 after purchasing an additional 29,440 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the transaction, the senior vice president now owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP John K. Handy sold 1,508 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $54.79, for a total transaction of $82,623.32. Following the transaction, the executive vice president now directly owns 46,524 shares of the company’s stock, valued at $2,549,049.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 730 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total value of $40,055.10. Following the transaction, the senior vice president now directly owns 25,502 shares in the company, valued at $1,399,294.74. The disclosure for this sale can be found here. Insiders have sold a total of 13,899 shares of company stock valued at $729,206 over the last 90 days. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CBSH shares. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research note on Wednesday, April 17th. Bank of America started coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price on the stock. Piper Sandler boosted their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $55.00.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $54.92 on Tuesday. The stock has a market cap of $7.13 billion, a P/E ratio of 15.32 and a beta of 0.79. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The firm’s fifty day moving average price is $52.14 and its 200-day moving average price is $51.10.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.97%. Commerce Bancshares’s dividend payout ratio is presently 30.12%.

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.