Natixis Advisors LLC Decreases Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Natixis Advisors LLC trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 93.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,090 shares of the financial services provider’s stock after selling 257,224 shares during the quarter. Natixis Advisors LLC’s holdings in Commerce Bancshares were worth $1,015,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CBSH. Cambridge Investment Research Advisors Inc. raised its position in shares of Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 154 shares during the last quarter. Sound Stewardship LLC grew its stake in Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP raised its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC lifted its stake in Commerce Bancshares by 3.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 217 shares in the last quarter. Finally, Marshall Financial Group LLC boosted its holdings in shares of Commerce Bancshares by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 223 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley lowered 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. Finally, Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $61.79.

Insider Transactions at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the sale, the executive vice president now directly owns 41,548 shares in the company, valued at approximately $2,650,762.40. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock worth $2,191,123 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Commerce Bancshares Trading Down 0.5 %

Shares of NASDAQ:CBSH opened at $73.96 on Wednesday. The business has a 50-day moving average price of $63.76 and a 200 day moving average price of $60.48. Commerce Bancshares, Inc. has a 12-month low of $47.19 and a 12-month high of $76.39. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 3.98 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

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.