Xponance Inc. Reduces Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Xponance Inc. cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,777 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Xponance Inc.’s holdings in Commerce Bancshares were worth $713,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 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 last quarter. American Century Companies Inc. lifted its stake in shares of Commerce Bancshares by 7.4% during the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after buying an additional 240,938 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 342,793 shares during the period. Boston Trust Walden Corp grew its holdings in shares of 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 valued at $70,339,000 after buying an additional 168,550 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Commerce Bancshares by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 659,735 shares of the financial services provider’s stock valued at $35,236,000 after acquiring an additional 41,220 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.4 %

Commerce Bancshares stock opened at $59.83 on Monday. The business’s 50-day moving average price is $62.14 and its 200 day moving average price is $57.33. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 10.03 and a beta of 0.75. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.81%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.08%.

Insider Transactions at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles G. Kim sold 5,282 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total transaction of $343,330.00. Following the completion of the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. The disclosure for this sale can be found here. Insiders have sold a total of 49,612 shares of company stock valued at $3,184,609 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CBSH shares. Morgan Stanley boosted their price target on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group upped their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.