ABN Amro Investment Solutions Sells 32,112 Shares of Commerce Bancshares, Inc. $CBSH

ABN Amro Investment Solutions reduced its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 56.3% in the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Profund Advisors LLC lifted its holdings in Commerce Bancshares by 4.4% in the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock valued at $280,000 after buying an additional 197 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock worth $1,494,000 after acquiring an additional 200 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Commerce Bancshares by 3.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,935 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 233 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Commerce Bancshares by 7.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,519 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In other news, CEO John W. Kemper sold 23,397 shares of Commerce Bancshares 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 completion of the sale, the chief executive officer owned 206,528 shares in the company, valued at approximately $11,150,446.72. This trade represents a 10.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Derrick Brooks sold 1,044 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total value of $56,793.60. Following the completion of the transaction, the senior vice president directly owned 14,585 shares in the company, valued at approximately $793,424. This represents a 6.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 27,667 shares of company stock valued at $1,493,323. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH opened at $53.60 on Tuesday. Commerce Bancshares, Inc. has a fifty-two week low of $48.69 and a fifty-two week high of $63.87. The firm has a 50-day moving average of $53.50 and a 200 day moving average of $54.30. The firm has a market cap of $7.10 billion, a P/E ratio of 12.79, a PEG ratio of 2.69 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) 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 business had revenue of $449.36 million during the quarter, compared to the consensus estimate of $442.47 million. During the same period last year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CBSH shares. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. TD Cowen reduced their price target on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Finally, Zacks Research lowered Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. One investment 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. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Reduce” and a consensus target price of $61.75.

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.