Nisa Investment Advisors LLC Sells 1,853 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nisa Investment Advisors LLC lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 12,615 shares of the financial services provider’s stock after selling 1,853 shares during the period. Nisa Investment Advisors LLC’s holdings in Commerce Bancshares were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CBSH. Raymond James & Associates grew its position in Commerce Bancshares by 8.6% in the 1st quarter. Raymond James & Associates now owns 58,372 shares of the financial services provider’s stock worth $4,179,000 after purchasing an additional 4,611 shares during the period. HighTower Advisors LLC grew its position in shares of Commerce Bancshares by 14.7% during the 1st quarter. HighTower Advisors LLC now owns 9,253 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 1,188 shares during the period. Natixis Advisors L.P. grew its position in shares of Commerce Bancshares by 27.2% during the 1st quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock valued at $1,814,000 after acquiring an additional 5,417 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Commerce Bancshares by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock valued at $4,414,000 after acquiring an additional 4,310 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Commerce Bancshares by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock valued at $79,527,000 after acquiring an additional 12,655 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the transaction, the director now owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the transaction, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The disclosure for this sale can be found here. Insiders have sold a total of 14,321 shares of company stock worth $752,387 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Bank of America assumed coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $53.17.

Commerce Bancshares Stock Performance

CBSH opened at $52.01 on Wednesday. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The firm’s fifty day moving average is $51.92 and its 200 day moving average is $50.90. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 14.33 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its 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. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The company had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. During the same quarter in the previous year, the company earned $0.90 EPS. Commerce Bancshares’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.24 earnings per share for the current year.

Commerce Bancshares Announces Dividend

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

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.