Cerity Partners LLC Sells 11,037 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cerity Partners LLC reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,835 shares of the financial services provider’s stock after selling 11,037 shares during the period. Cerity Partners LLC’s holdings in Commerce Bancshares were worth $3,817,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CoreFirst Bank & Trust bought a new position in Commerce Bancshares during the fourth quarter valued at $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the fourth quarter valued at about $35,000. V Square Quantitative Management LLC lifted its holdings in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 268 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 1.2 %

NASDAQ:CBSH opened at $56.88 on Monday. The stock has a market cap of $7.63 billion, a P/E ratio of 14.18, a PEG ratio of 2.13 and a beta of 0.71. The business’s 50-day moving average price is $62.36 and its two-hundred day moving average price is $64.15. Commerce Bancshares, Inc. has a twelve month low of $48.49 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period last year, the firm posted $0.84 earnings per share. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.275 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.93%. Commerce Bancshares’s payout ratio is 27.43%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CBSH shares. Piper Sandler raised their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 9th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $65.17.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the sale, the vice president now owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock valued at $5,248,272 over the last 90 days. 3.10% of the stock is owned by insiders.

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.