Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 201,681 shares of the financial services provider’s stock after selling 3,730 shares during the period. California Public Employees Retirement System owned about 0.16% of Commerce Bancshares worth $12,567,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after buying an additional 642,401 shares during the last quarter. American Century Companies Inc. raised its position in shares of Commerce Bancshares by 25.5% during the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock valued at $228,991,000 after acquiring an additional 745,661 shares in the last quarter. Geode Capital Management LLC lifted its stake in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Commerce Bancshares by 12.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider’s stock worth $99,364,000 after purchasing an additional 182,423 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after purchasing an additional 219,826 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CBSH. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler lifted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.17.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the transaction, the executive vice president now directly owns 45,511 shares of the company’s stock, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the sale, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,434 shares of company stock valued at $5,248,272. Company insiders own 3.10% of the company’s stock.

Commerce Bancshares Trading Down 3.9 %

Shares of NASDAQ CBSH opened at $55.42 on Friday. Commerce Bancshares, Inc. has a 12-month low of $48.49 and a 12-month high of $72.75. The company has a market cap of $7.43 billion, a PE ratio of 13.82, a P/E/G ratio of 2.13 and a beta of 0.71. The stock has a 50 day simple moving average of $63.74 and a 200-day simple moving average of $64.38.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share 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. This represents a $1.10 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

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.