Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 362,276 shares of the financial services provider’s stock after selling 6,505 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.28% of Commerce Bancshares worth $21,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 342,793 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after buying an additional 168,550 shares during the period. Sei Investments Co. grew its position in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after buying an additional 3,391 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Commerce Bancshares by 2.5% during the second quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider’s stock worth $31,653,000 after acquiring an additional 13,772 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $65.07.

Commerce Bancshares Stock Down 0.5 %

Shares of NASDAQ CBSH opened at $68.74 on Friday. The stock has a market cap of $8.81 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.71 and a beta of 0.77. The firm’s 50-day simple moving average is $65.24 and its 200 day simple moving average is $61.22. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 24.15% and a return on equity of 15.93%. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred 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. The trade was a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the sale, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. This represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,816 shares of company stock valued at $2,108,821 in the last quarter. Company 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.