Simmons Bank Trims Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Simmons Bank cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,877 shares of the financial services provider’s stock after selling 723 shares during the period. Simmons Bank’s holdings in Commerce Bancshares were worth $795,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in Commerce Bancshares by 16.5% during the third quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 18,535 shares during the last quarter. Mutual Advisors LLC raised its position in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider’s stock worth $20,011,000 after buying an additional 15,508 shares during the period. Handelsinvest Investeringsforvaltning purchased a new position in shares of Commerce Bancshares in the 4th quarter worth $526,000. Stifel Financial Corp boosted its holdings in Commerce Bancshares by 23.0% in the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock valued at $5,322,000 after acquiring an additional 20,737 shares during the last quarter. Finally, Eukles Asset Management grew its position in Commerce Bancshares by 4.0% during the fourth quarter. Eukles Asset Management now owns 8,986 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 345 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Morgan Stanley increased their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $55.00.

Commerce Bancshares Trading Up 0.7 %

CBSH stock traded up $0.40 during mid-day trading on Wednesday, hitting $56.42. The stock had a trading volume of 167,995 shares, compared to its average volume of 478,716. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $57.00. The company has a fifty day moving average of $53.03 and a 200 day moving average of $51.70. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 15.62 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to the consensus estimate 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 company posted $0.90 earnings per share. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.48 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is presently 30.12%.

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.