Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,496 shares of the financial services provider’s stock after selling 2,038 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Commerce Bancshares were worth $405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $33,000. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $35,000. V Square Quantitative Management LLC raised its stake in Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 268 shares during the period. Finally, GAMMA Investing LLC grew its stake 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 worth $71,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CBSH. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler boosted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $63.20.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now owns 211,929 shares of the company’s stock, valued at $14,258,583.12. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,434 shares of company stock worth $5,248,272. Company insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

CBSH stock opened at $59.90 on Friday. The firm has a market cap of $8.03 billion, a PE ratio of 14.94, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12 month low of $49.81 and a 12 month high of $72.75. The firm has a 50 day simple moving average of $61.68 and a 200 day simple moving average of $64.07.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

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.