Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.6% in the 3rd quarter, Holdings Channel reports. The fund owned 29,628 shares of the financial services provider’s stock after buying an additional 2,600 shares during the period. Handelsbanken Fonder AB’s holdings in Commerce Bancshares were worth $1,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Clarity Asset Management Inc. purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $43,000. Bessemer Group Inc. raised its position in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares during the period. GAMMA Investing LLC lifted its stake in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares in the last quarter. Eagle Bay Advisors LLC boosted its position in Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 974 shares during the period. Finally, LRI Investments LLC acquired a new stake in Commerce Bancshares during the 1st quarter worth about $90,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other Commerce Bancshares 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 $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the transaction, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,612 shares of company stock worth $3,184,609. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CBSH shares. 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 report on Wednesday, July 3rd. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.71.

Commerce Bancshares Price Performance

CBSH stock opened at $58.36 on Friday. The firm has a 50 day moving average of $61.02 and a two-hundred day moving average of $57.68. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 9.69 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $406.88 million. During the same period in the prior year, the company posted $0.97 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s payout ratio is 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.