Boston Trust Walden Corp Sells 150,492 Shares of Commerce Bancshares, Inc. $CBSH

Boston Trust Walden Corp trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,934,136 shares of the financial services provider’s stock after selling 150,492 shares during the period. Commerce Bancshares makes up approximately 0.8% of Boston Trust Walden Corp’s holdings, making the stock its 27th largest position. Boston Trust Walden Corp owned approximately 1.32% of Commerce Bancshares worth $95,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBSH. Vanguard Group Inc. raised its stake in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the last quarter. State Street Corp grew its stake in shares of Commerce Bancshares by 8.4% in the fourth quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock worth $383,071,000 after acquiring an additional 566,853 shares during the last quarter. Commerce Bank increased its holdings in shares of Commerce Bancshares by 7.0% during the fourth quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock valued at $296,287,000 after acquiring an additional 369,636 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Commerce Bancshares by 15.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,049,064 shares of the financial services provider’s stock valued at $159,597,000 after acquiring an additional 406,063 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Commerce Bancshares by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after purchasing an additional 174,863 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 1.2%

Shares of CBSH stock opened at $58.03 on Friday. The company has a 50 day moving average price of $53.33 and a 200-day moving average price of $52.39. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $63.19. The firm has a market capitalization of $8.46 billion, a PE ratio of 13.92, a P/E/G ratio of 3.97 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million for the quarter, compared to the consensus estimate of $481.94 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts anticipate that Commerce Bancshares, Inc. will post 4.14 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, June 5th. Commerce Bancshares’s dividend payout ratio is presently 26.38%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CBSH shares. Hovde Group cut their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Morgan Stanley reiterated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday. Finally, TD Cowen reissued a “hold” rating and set a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $58.00.

Commerce Bancshares Profile

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.