BTIM Corp. cut its stake in shares of Commerce Bancshares Inc. (NASDAQ:CBSH) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 754,853 shares of the financial services provider’s stock after selling 22,416 shares during the period. BTIM Corp.’s holdings in Commerce Bancshares were worth $37,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFG Advisors LP boosted its position in shares of Commerce Bancshares by 0.5% in the second quarter. WFG Advisors LP now owns 3,725 shares of the financial services provider’s stock valued at $178,000 after buying an additional 20 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Commerce Bancshares by 1.0% in the third quarter. Capstone Asset Management Co. now owns 6,804 shares of the financial services provider’s stock valued at $335,000 after buying an additional 69 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Commerce Bancshares by 0.3% in the second quarter. Brown Advisory Inc. now owns 49,592 shares of the financial services provider’s stock valued at $2,375,000 after buying an additional 136 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of Commerce Bancshares by 0.6% in the second quarter. State Treasurer State of Michigan now owns 33,368 shares of the financial services provider’s stock valued at $1,598,000 after buying an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Commerce Bancshares by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 5,022 shares of the financial services provider’s stock valued at $240,000 after buying an additional 278 shares during the last quarter. Institutional investors own 61.41% of the company’s stock.

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

Commerce Bancshares Inc. (NASDAQ:CBSH) traded up 1.517% during mid-day trading on Wednesday, reaching $55.375. 71,449 shares of the company’s stock traded hands. The company has a 50 day moving average price of $52.15 and a 200-day moving average price of $49.33. Commerce Bancshares Inc. has a 12 month low of $37.44 and a 12 month high of $58.21. The stock has a market cap of $5.35 billion, a P/E ratio of 20.833 and a beta of 0.66.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.02. The firm earned $290.60 million during the quarter. Commerce Bancshares had a return on equity of 11.52% and a net margin of 23.01%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS. On average, analysts anticipate that Commerce Bancshares Inc. will post $2.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, December 2nd will be given a $0.225 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.57%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 33.83%.

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Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Barclays PLC increased their target price on shares of Commerce Bancshares from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 11th. Morgan Stanley cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a report on Tuesday, September 20th. Finally, Jefferies Group restated a “hold” rating on shares of Commerce Bancshares in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Commerce Bancshares has a consensus rating of “Hold” and an average target price of $45.75.

In related news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the transaction, the insider now owns 1,192,407 shares in the company, valued at approximately $59,703,818.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara E. Foster sold 4,783 shares of the business’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $57.98, for a total transaction of $277,318.34. Following the transaction, the insider now owns 59,728 shares in the company, valued at approximately $3,463,029.44. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

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