ABN Amro Investment Solutions Has $1.49 Million Stock Holdings in Commerce Bancshares, Inc. $CBSH

ABN Amro Investment Solutions lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 56.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,903 shares of the financial services provider’s stock after selling 32,112 shares during the period. ABN Amro Investment Solutions’ holdings in Commerce Bancshares were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Commerce Bancshares by 6.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,573 shares of the financial services provider’s stock worth $598,000 after buying an additional 564 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Commerce Bancshares during the second quarter worth about $204,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Commerce Bancshares in the 2nd quarter valued at approximately $2,680,000. Finally, Chicago Partners Investment Group LLC raised its position in Commerce Bancshares by 47.8% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 7,413 shares of the financial services provider’s stock valued at $465,000 after buying an additional 2,399 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price target on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. TD Cowen cut their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Zacks Research downgraded shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $61.75.

Commerce Bancshares Stock Down 0.6%

Shares of CBSH stock opened at $53.60 on Tuesday. Commerce Bancshares, Inc. has a 12-month low of $48.69 and a 12-month high of $63.87. The company has a market capitalization of $7.10 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.69 and a beta of 0.62. The firm has a 50 day moving average price of $53.50 and a two-hundred day moving average price of $54.30.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The company had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.25%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,044 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the transaction, the senior vice president owned 14,585 shares in the company, valued at $793,424. This trade represents a 6.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 23,397 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the sale, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at $11,150,446.72. This represents a 10.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,667 shares of company stock valued at $1,493,323. 3.10% of the stock is owned by company insiders.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.