Mutual of America Capital Management LLC Has $3.92 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mutual of America Capital Management LLC trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,414 shares of the financial services provider’s stock after selling 378 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Commerce Bancshares were worth $3,921,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CBSH. BKM Wealth Management LLC acquired a new position in Commerce Bancshares in the 4th quarter worth approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $35,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares in the second quarter worth $38,000. Quantbot Technologies LP purchased a new position in shares of Commerce Bancshares during the second quarter valued at $42,000. Finally, Adirondack Trust Co. acquired a new position in Commerce Bancshares during the third quarter valued at $44,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CBSH. Morgan Stanley lifted their target price on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Finally, Bank of America started coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $53.17.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $52.01 on Wednesday. The firm has a market cap of $6.76 billion, a PE ratio of 14.33 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $56.75. The firm’s 50 day moving average price is $51.92 and its 200 day moving average price is $50.90.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million for the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. Commerce Bancshares’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.24 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 6th. This represents a $1.08 annualized dividend and a dividend yield of 2.08%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 29.75%.

Insider Activity

In other news, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now owns 33,567 shares of the company’s stock, valued at $1,806,911.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the completion of the sale, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,321 shares of company stock valued at $752,387. Insiders own 3.10% of the company’s stock.

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.