Charles Schwab Investment Management Inc. Has $60.08 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Charles Schwab Investment Management Inc. reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,011,502 shares of the financial services provider’s stock after selling 4,652 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Commerce Bancshares were worth $60,083,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Commerce Bancshares in the third quarter valued at approximately $26,000. Allworth Financial LP raised its stake in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the period. Capital Performance Advisors LLP bought a new position in Commerce Bancshares during the third quarter worth $39,000. GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 521 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the sale, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $579,539.80. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,109 shares of company stock worth $2,191,123 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Down 0.2 %

NASDAQ CBSH opened at $73.75 on Friday. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 3.99 and a beta of 0.73. The company has a 50 day moving average of $64.43 and a 200-day moving average of $60.79. Commerce Bancshares, Inc. has a 1-year low of $47.28 and a 1-year high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, equities research analysts forecast 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. Investors of record on Tuesday, December 3rd will be given 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 1.46%. Commerce Bancshares’s dividend payout ratio is 28.13%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.79.

Commerce Bancshares 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.