Missouri Trust & Investment Co Cuts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Missouri Trust & Investment Co reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Commerce Bancshares in the third quarter worth about $638,000. Keystone Financial Services purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $215,000. Los Angeles Capital Management LLC boosted its position in shares of Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after acquiring an additional 358,066 shares during the last quarter. Atria Investments Inc lifted its position in Commerce Bancshares by 9.3% during the third quarter. Atria Investments Inc now owns 24,455 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 2,071 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares in the 3rd quarter worth about $39,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH remained flat at $71.94 during mid-day trading on Tuesday. 32,439 shares of the stock traded hands, compared to its average volume of 532,460. The company has a 50-day moving average price of $61.71 and a 200-day moving average price of $59.33. Commerce Bancshares, Inc. has a 52-week low of $42.48 and a 52-week high of $72.74. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.76 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million for 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%. Research analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

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 issued a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.50%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John K. Handy sold 1,331 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total value of $84,917.80. Following the completion of the sale, the executive vice president now owns 41,548 shares of the company’s stock, valued at approximately $2,650,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,331 shares of company stock valued at $2,062,778. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of analyst reports. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted 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. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.79.

Commerce Bancshares 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.