Commerce Bancshares, Inc. (CBSH) Stake Lessened by Brown Advisory Inc.

Brown Advisory Inc. decreased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,683 shares of the financial services provider’s stock after selling 3,533 shares during the period. Brown Advisory Inc.’s holdings in Commerce Bancshares were worth $2,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in Commerce Bancshares by 1.8% in the 3rd quarter. BlackRock Inc. now owns 8,645,063 shares of the financial services provider’s stock valued at $570,749,000 after purchasing an additional 150,113 shares during the last quarter. Schroder Investment Management Group raised its stake in Commerce Bancshares by 34.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,621,188 shares of the financial services provider’s stock valued at $72,468,000 after purchasing an additional 412,145 shares during the last quarter. Findlay Park Partners LLP raised its stake in Commerce Bancshares by 15.9% in the 2nd quarter. Findlay Park Partners LLP now owns 1,500,000 shares of the financial services provider’s stock valued at $97,065,000 after purchasing an additional 206,083 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Commerce Bancshares by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,184,830 shares of the financial services provider’s stock valued at $78,221,000 after purchasing an additional 11,643 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Commerce Bancshares by 8.6% in the 3rd quarter. Wells Fargo & Company MN now owns 1,080,789 shares of the financial services provider’s stock valued at $71,353,000 after purchasing an additional 85,315 shares during the last quarter. Hedge funds and other institutional investors own 63.41% of the company’s stock.

In other Commerce Bancshares news, insider Paula S. Petersen sold 838 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.72, for a total value of $60,101.36. Following the completion of the sale, the insider now directly owns 17,698 shares of the company’s stock, valued at approximately $1,269,300.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan M. Kemper sold 45,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $71.35, for a total value of $3,210,750.00. Following the completion of the sale, the director now directly owns 902,348 shares of the company’s stock, valued at $64,382,529.80. The disclosure for this sale can be found here. Insiders sold a total of 57,378 shares of company stock valued at $4,016,405 over the last ninety days. Corporate insiders own 4.00% of the company’s stock.

CBSH has been the subject of several recent research reports. BidaskClub downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, ValuEngine downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.33.

Shares of CBSH opened at $60.10 on Friday. Commerce Bancshares, Inc. has a 52-week low of $54.24 and a 52-week high of $72.55. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.91 and a beta of 0.65.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Commerce Bancshares had a return on equity of 15.56% and a net margin of 30.97%. The business had revenue of $331.47 million during the quarter, compared to the consensus estimate of $330.91 million. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 35.61%.

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About Commerce Bancshares

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

Further Reading: What is Net Asset Value (NAV)?

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

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