FourThought Financial LLC Sells 1,845 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

FourThought Financial LLC lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) by 32.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,830 shares of the financial services provider’s stock after selling 1,845 shares during the period. FourThought Financial LLC’s holdings in Commerce Bancshares were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Republic Investment Management Inc. boosted its position in shares of Commerce Bancshares by 0.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock valued at $3,496,000 after purchasing an additional 138 shares in the last quarter. NewEdge Advisors LLC raised its stake in Commerce Bancshares by 1.2% during the 2nd quarter. NewEdge Advisors LLC now owns 12,959 shares of the financial services provider’s stock worth $851,000 after buying an additional 154 shares during the period. Quantinno Capital Management LP raised its stake in Commerce Bancshares by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 35,677 shares of the financial services provider’s stock worth $2,360,000 after buying an additional 188 shares during the period. AlphaCrest Capital Management LLC raised its stake in Commerce Bancshares by 0.9% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 23,314 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 201 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Commerce Bancshares by 0.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 31,852 shares of the financial services provider’s stock worth $2,107,000 after buying an additional 219 shares during the period. Institutional investors own 64.12% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, Director David W. Kemper sold 21,550 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $65.51, for a total transaction of $1,411,740.50. Following the completion of the sale, the director now directly owns 1,172,276 shares of the company’s stock, valued at $76,795,800.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David W. Kemper sold 21,550 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $65.51, for a total transaction of $1,411,740.50. Following the completion of the sale, the director now directly owns 1,172,276 shares of the company’s stock, valued at $76,795,800.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David W. Kemper sold 1,036 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $67.39, for a total value of $69,816.04. Following the sale, the director now directly owns 1,162,396 shares of the company’s stock, valued at $78,333,866.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,551 shares of company stock valued at $3,076,855. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Commerce Bancshares from $70.48 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. StockNews.com downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday.

Commerce Bancshares Stock Up 2.3 %

Shares of Commerce Bancshares stock opened at $60.62 on Friday. The company has a market cap of $7.57 billion, a PE ratio of 15.75 and a beta of 0.75. Commerce Bancshares, Inc. has a 52 week low of $55.83 and a 52 week high of $72.60. The business has a 50 day moving average price of $66.08 and a 200-day moving average price of $68.29.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last issued its quarterly earnings data on Thursday, January 19th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $391.50 million during the quarter, compared to the consensus estimate of $395.61 million. Commerce Bancshares had a return on equity of 18.60% and a net margin of 31.60%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.93 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Tuesday, March 7th will be paid a $0.27 dividend. The ex-dividend date is Monday, March 6th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 1.78%. Commerce Bancshares’s dividend payout ratio is 28.06%.

Commerce Bancshares Profile

(Get Rating)

Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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