Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Clark & Stuart Inc

Clark & Stuart Inc lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 85,101 shares of the financial services provider’s stock after selling 235 shares during the quarter. Commerce Bancshares makes up 3.9% of Clark & Stuart Inc’s investment portfolio, making the stock its 11th biggest position. Clark & Stuart Inc’s holdings in Commerce Bancshares were worth $5,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. lifted its holdings in Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after buying an additional 166 shares in the last quarter. Canopy Partners LLC raised its stake in shares of Commerce Bancshares by 4.9% in the 4th quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 168 shares in the last quarter. Apriem Advisors raised its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 182 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of Commerce Bancshares by 4.9% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 186 shares in the last quarter. Finally, Angeles Investment Advisors LLC raised its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now owns 3,175 shares in the company, valued at approximately $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $60.43 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a fifty-two week low of $50.65 and a fifty-two week high of $72.75. The firm has a 50-day simple moving average of $62.16 and a 200 day simple moving average of $63.17. The company has a market cap of $8.06 billion, a PE ratio of 14.63, a P/E/G ratio of 4.00 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. The business had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, June 6th. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Analyst Upgrades and Downgrades

CBSH has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upped their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Piper Sandler upped their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.80.

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.