Missouri Trust & Investment Co Has $252,000 Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Missouri Trust & Investment Co lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,238 shares of the financial services provider’s stock after selling 900 shares during the quarter. Missouri Trust & Investment Co’s holdings in Commerce Bancshares were worth $252,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 805 shares during the period. BNP Paribas Financial Markets grew its position in Commerce Bancshares by 73.0% during the first quarter. BNP Paribas Financial Markets now owns 12,251 shares of the financial services provider’s stock valued at $652,000 after buying an additional 5,170 shares during the period. Sei Investments Co. grew its position in shares of Commerce Bancshares by 15.7% during the 1st quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock valued at $33,055,000 after acquiring an additional 84,433 shares during the period. Entropy Technologies LP purchased a new stake in Commerce Bancshares in the first quarter worth $322,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Commerce Bancshares by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 146,642 shares of the financial services provider’s stock worth $8,557,000 after acquiring an additional 4,703 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH stock remained flat at $71.94 during trading on Tuesday. 32,439 shares of the company traded hands, compared to its average volume of 532,460. Commerce Bancshares, Inc. has a one year low of $42.48 and a one year high of $72.74. The firm has a market cap of $9.22 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.76 and a beta of 0.73. The business’s 50 day simple moving average is $61.71 and its 200-day simple moving average is $59.33.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.50%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Insider Activity

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,331 shares of company stock valued at $2,062,778. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBSH. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $61.79.

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.