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

Speece Thorson Capital Group Inc. reduced its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,093 shares of the financial services provider’s stock after selling 542 shares during the quarter. Commerce Bancshares makes up 2.5% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 20th biggest holding. Speece Thorson Capital Group Inc.’s holdings in Commerce Bancshares were worth $13,371,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares in the third quarter valued at $26,000. Allworth Financial LP increased its stake in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares during the third quarter worth about $39,000. Bessemer Group Inc. increased its stake in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.7 %

Shares of NASDAQ CBSH traded up $0.53 on Wednesday, hitting $72.79. The company had a trading volume of 33,516 shares, compared to its average volume of 532,406. Commerce Bancshares, Inc. has a 12-month low of $44.48 and a 12-month high of $73.29. The business has a 50 day moving average of $61.88 and a two-hundred day moving average of $59.45. The firm has a market capitalization of $9.33 billion, a P/E ratio of 18.96, a PEG ratio of 3.89 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million during 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, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CBSH shares. Wells Fargo & Company upped their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.79.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP John K. Handy sold 1,331 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total value of $84,917.80. Following the sale, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,331 shares of company stock valued at $2,062,778 in the last quarter. 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.