Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,414 shares of the financial services provider’s stock after selling 378 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Commerce Bancshares worth $3,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions 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 valued at $4,179,000 after buying an additional 4,611 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Commerce Bancshares by 14.7% in the first 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 in the last quarter. Natixis Advisors L.P. increased its stake in shares of Commerce Bancshares by 27.2% during the first quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock worth $1,814,000 after acquiring an additional 5,417 shares during the period. Great West Life Assurance Co. Can raised its holdings in Commerce Bancshares by 7.7% during the first quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock worth $4,414,000 after purchasing an additional 4,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock valued at $79,527,000 after purchasing an additional 12,655 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, SVP Douglas D. Neff sold 614 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at $403,909.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at $403,909.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction dated 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 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. In the last quarter, insiders sold 14,321 shares of company stock valued at $752,387. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

CBSH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Morgan Stanley upped their price target on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Bank of America started coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They issued 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 given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.17.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $52.01 on Wednesday. The firm’s 50-day moving average is $51.92 and its two-hundred day moving average is $50.90. The company has a market capitalization of $6.76 billion, a PE ratio of 14.33 and a beta of 0.79. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $56.75.

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

Commerce Bancshares Dividend Announcement

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

About Commerce Bancshares

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.