Commerce Bancshares, Inc. $CBSH Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 91.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,647 shares of the financial services provider’s stock after selling 40,108 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Commerce Bancshares were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBSH. Headlands Technologies LLC bought a new stake in shares of Commerce Bancshares during the 2nd quarter worth about $59,000. Vident Advisory LLC boosted its holdings in shares of Commerce Bancshares by 29.4% in the second quarter. Vident Advisory LLC now owns 5,417 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,232 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Commerce Bancshares by 14.8% during the second quarter. Rafferty Asset Management LLC now owns 96,878 shares of the financial services provider’s stock valued at $6,023,000 after acquiring an additional 12,484 shares during the period. Lazard Asset Management LLC raised its holdings in Commerce Bancshares by 4.0% during the second quarter. Lazard Asset Management LLC now owns 410,965 shares of the financial services provider’s stock worth $25,549,000 after purchasing an additional 15,840 shares in the last quarter. Finally, Hilton Capital Management LLC lifted its position in Commerce Bancshares by 10.6% in the second quarter. Hilton Capital Management LLC now owns 40,928 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 3,919 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 1.2%

Shares of Commerce Bancshares stock opened at $52.89 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $48.69 and a 12-month high of $65.59. The firm has a market capitalization of $7.00 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 4.67 and a beta of 0.62. The stock’s fifty day moving average is $51.74 and its 200-day moving average is $56.26.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The company had revenue of $448.85 million during the quarter, compared to analyst estimates of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.02 EPS. Analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. TD Cowen started coverage on Commerce Bancshares in a research note on Thursday, September 25th. They set a “hold” rating and a $60.00 target price for the company. Hovde Group initiated coverage on Commerce Bancshares in a report on Monday, October 6th. They set an “outperform” rating and a $66.67 target price on the stock. Cowen reiterated a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.18.

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.