Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 44,510 shares of the financial services provider’s stock after selling 2,203 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Commerce Bancshares were worth $2,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP increased its position in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the period. Capital Performance Advisors LLP bought a new stake in Commerce Bancshares during the 3rd quarter valued at $39,000. True Wealth Design LLC acquired a new position in Commerce Bancshares during the 3rd quarter worth $47,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,816 shares of company stock valued at $2,330,126 in the last three months. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $67.81 on Tuesday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm’s 50 day simple moving average is $66.80 and its 200-day simple moving average is $61.98. The company has a market cap of $8.70 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is currently 28.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CBSH shares. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.07.

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.