Boston Trust Walden Corp Sells 150,492 Shares of Commerce Bancshares, Inc. $CBSH

Boston Trust Walden Corp cut its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,934,136 shares of the financial services provider’s stock after selling 150,492 shares during the quarter. Commerce Bancshares accounts for about 0.8% of Boston Trust Walden Corp’s holdings, making the stock its 27th largest position. Boston Trust Walden Corp’s holdings in Commerce Bancshares were worth $95,160,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in shares of Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 319 shares during the period. MQS Management LLC bought a new position in Commerce Bancshares in the 1st quarter worth $493,000. Simmons Bank boosted its holdings in Commerce Bancshares by 45.6% in the 1st quarter. Simmons Bank now owns 21,610 shares of the financial services provider’s stock worth $1,063,000 after buying an additional 6,766 shares during the period. Pictet Asset Management Holding SA increased its stake in Commerce Bancshares by 4.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 20,699 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 970 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Commerce Bancshares in the 1st quarter worth $1,953,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Commerce Bancshares from $58.50 to $59.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wells Fargo & Company decreased their target price on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Wednesday, June 24th. Finally, Morgan Stanley restated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.00.

Commerce Bancshares Stock Down 1.2%

Shares of Commerce Bancshares stock opened at $58.03 on Friday. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $63.19. The business has a 50-day moving average price of $53.33 and a 200-day moving average price of $52.39. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 3.97 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million for the quarter, compared to the consensus estimate of $481.94 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Commerce Bancshares’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares, Inc. will post 4.14 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio is currently 26.38%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.