Goldman Sachs Group Inc. Has $27.81 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Goldman Sachs Group Inc. lowered its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520,643 shares of the financial services provider’s stock after selling 237,086 shares during the period. Goldman Sachs Group Inc. owned approximately 0.40% of Commerce Bancshares worth $27,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thomas Story & Son LLC lifted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Thomas Story & Son LLC now owns 6,637 shares of the financial services provider’s stock worth $354,000 after buying an additional 315 shares during the last quarter. American International Group Inc. lifted its position in shares of Commerce Bancshares by 0.3% in the fourth quarter. American International Group Inc. now owns 160,424 shares of the financial services provider’s stock worth $8,568,000 after buying an additional 539 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its position in shares of Commerce Bancshares by 37.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock worth $12,432,000 after buying an additional 63,266 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 5,959 shares of the financial services provider’s stock worth $318,000 after buying an additional 283 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Commerce Bancshares during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $56.77, for a total value of $1,509,003.37. Following the sale, the chief executive officer now directly owns 198,387 shares in the company, valued at approximately $11,262,429.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of several research analyst reports. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Wednesday, April 17th. Piper Sandler boosted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.29.

Commerce Bancshares Stock Up 1.2 %

Commerce Bancshares stock opened at $54.09 on Monday. The business has a 50 day moving average price of $54.91 and a two-hundred day moving average price of $53.40. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $57.48.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same quarter in the prior year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Commerce Bancshares, Inc. will post 3.54 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.00%. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

About Commerce Bancshares

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.