Fisher Asset Management LLC Decreases Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Fisher Asset Management LLC decreased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 53.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,830 shares of the financial services provider’s stock after selling 2,116 shares during the period. Fisher Asset Management LLC’s holdings in Commerce Bancshares were worth $89,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BOKF NA bought a new position in shares of Commerce Bancshares during the first quarter valued at about $29,000. Quantbot Technologies LP bought a new position in Commerce Bancshares during the 2nd quarter worth approximately $42,000. Altshuler Shaham Ltd purchased a new position in Commerce Bancshares in the 4th quarter worth approximately $47,000. Resources Management Corp CT ADV lifted its position in Commerce Bancshares by 39.3% in the first quarter. Resources Management Corp CT ADV now owns 947 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 267 shares during the last quarter. Finally, Arlington Partners LLC purchased a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $51,000. Institutional investors own 69.63% of the company’s stock.

Commerce Bancshares Trading Down 1.8 %

CBSH opened at $49.73 on Tuesday. The stock has a market cap of $6.18 billion, a PE ratio of 12.53 and a beta of 0.76. The business has a 50 day moving average of $46.99 and a 200-day moving average of $48.91. Commerce Bancshares, Inc. has a 52 week low of $42.96 and a 52 week high of $72.60. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $391.50 million during the quarter, compared to analyst estimates of $391.77 million. Commerce Bancshares had a return on equity of 19.12% and a net margin of 26.71%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.79 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, December 1st. Commerce Bancshares’s dividend payout ratio is 27.20%.

Insider Activity

In related news, Director Blackford F. Brauer purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $49.14 per share, for a total transaction of $245,700.00. Following the purchase, the director now directly owns 28,426 shares of the company’s stock, valued at approximately $1,396,853.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 3,459 shares of Commerce Bancshares stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $47.01, for a total value of $162,607.59. Following the completion of the transaction, the senior vice president now directly owns 25,349 shares of the company’s stock, valued at $1,191,656.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blackford F. Brauer purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $49.14 per share, for a total transaction of $245,700.00. Following the acquisition, the director now owns 28,426 shares of the company’s stock, valued at $1,396,853.64. The disclosure for this purchase can be found here. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CBSH. Piper Sandler decreased their target price on shares of Commerce Bancshares from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Friday, October 20th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $48.00 to $49.00 in a research note on Wednesday, September 27th. Jefferies Financial Group upped their price target on Commerce Bancshares from $51.00 to $52.00 in a research report on Tuesday, October 10th. Finally, StockNews.com began coverage on Commerce Bancshares in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $52.60.

Commerce Bancshares Profile

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.