Mutual of America Capital Management LLC Has $3.77 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mutual of America Capital Management LLC lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 63,405 shares of the financial services provider’s stock after selling 4,087 shares during the period. Mutual of America Capital Management LLC’s holdings in Commerce Bancshares were worth $3,766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CBSH. Vanguard Group Inc. boosted its holdings in Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares during the period. American Century Companies Inc. lifted its stake in shares of Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares during the period. Dimensional Fund Advisors LP grew its position in Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after buying an additional 342,793 shares in the last quarter. Boston Trust Walden Corp grew its position in Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after buying an additional 168,550 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Commerce Bancshares by 0.5% during the second quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after acquiring an additional 3,391 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $71.81 on Friday. The stock’s fifty day simple moving average is $63.28 and its 200 day simple moving average is $60.18. Commerce Bancshares, Inc. has a one year low of $47.19 and a one year high of $73.31. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 3.87 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.50%. Commerce Bancshares’s dividend payout ratio is 28.13%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Seven 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.79.

Insider Transactions at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,109 shares of company stock valued at $2,191,123. Corporate insiders own 3.20% 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.