Shelton Capital Management Cuts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Shelton Capital Management cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,607 shares of the financial services provider’s stock after selling 258 shares during the quarter. Shelton Capital Management’s holdings in Commerce Bancshares were worth $273,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CBSH. First Republic Investment Management Inc. grew its stake in shares of Commerce Bancshares by 0.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock worth $3,496,000 after purchasing an additional 138 shares during the period. Cetera Advisors LLC lifted its position in shares of Commerce Bancshares by 3.6% during the 4th quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 179 shares during the period. Meritage Portfolio Management boosted its stake in shares of Commerce Bancshares by 0.6% during the 2nd quarter. Meritage Portfolio Management now owns 35,411 shares of the financial services provider’s stock worth $1,725,000 after acquiring an additional 219 shares in the last quarter. Resources Management Corp CT ADV grew its holdings in shares of Commerce Bancshares by 39.3% in the 1st quarter. Resources Management Corp CT ADV now owns 947 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 267 shares during the period. Finally, Barclays PLC increased its stake in Commerce Bancshares by 1.0% in the 4th quarter. Barclays PLC now owns 30,687 shares of the financial services provider’s stock valued at $2,090,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company decreased their target price on Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, October 20th. Jefferies Financial Group lifted their target price on shares of Commerce Bancshares from $51.00 to $52.00 in a research report on Tuesday, October 10th. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $48.00 to $49.00 in a research report on Wednesday, September 27th. StockNews.com assumed coverage on Commerce Bancshares in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Piper Sandler dropped their price target on Commerce Bancshares from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.60.

Insider Buying and Selling at Commerce Bancshares

In other news, Director Blackford F. Brauer bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $49.14 per share, with a total value of $245,700.00. Following the transaction, the director now 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 SEC, which is accessible through this hyperlink. In related news, Director Blackford F. Brauer bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $49.14 per share, with a total value of $245,700.00. Following the completion of the transaction, the director now directly owns 28,426 shares of the company’s stock, valued at $1,396,853.64. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 3,459 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was 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 owns 25,349 shares of the company’s stock, valued at approximately $1,191,656.49. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Stock Down 1.8 %

Shares of NASDAQ CBSH opened at $49.73 on Tuesday. The firm has a market cap of $6.18 billion, a P/E ratio of 12.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71. Commerce Bancshares, Inc. has a 1 year low of $42.96 and a 1 year high of $72.60. The firm’s 50 day moving average price is $46.99 and its 200 day moving average price is $48.91.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results 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 company had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $391.77 million. Commerce Bancshares had a return on equity of 19.12% and a net margin of 26.71%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.79 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared 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 yield of 2.17%. The ex-dividend date is Friday, December 1st. Commerce Bancshares’s dividend payout ratio is currently 27.20%.

Commerce Bancshares Company 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.