Los Angeles Capital Management LLC Sells 329,393 Shares of Commerce Bancshares, Inc. $CBSH

Los Angeles Capital Management LLC lowered its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 79.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,512 shares of the financial services provider’s stock after selling 329,393 shares during the period. Los Angeles Capital Management LLC’s holdings in Commerce Bancshares were worth $4,578,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Heartland Bank & Trust Co boosted its stake in Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after buying an additional 192 shares in the last quarter. Profund Advisors LLC boosted its stake in Commerce Bancshares by 4.4% during the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after buying an additional 197 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in Commerce Bancshares by 2.7% during the third quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock worth $494,000 after buying an additional 215 shares in the last quarter. Elser Financial Planning Inc boosted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after buying an additional 215 shares in the last quarter. Finally, Centerpoint Advisory Group boosted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, Director Timothy S. Dunn purchased 2,500 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $47.71 per share, with a total value of $119,275.00. Following the purchase, the director directly owned 5,403 shares in the company, valued at $257,777.13. The trade was a 86.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Up 0.7%

Shares of NASDAQ CBSH opened at $53.41 on Tuesday. The firm’s 50-day simple moving average is $51.21 and its 200 day simple moving average is $51.85. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.60. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts expect that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. Commerce Bancshares’s dividend payout ratio is 26.38%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CBSH. Hovde Group reduced their target price on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Piper Sandler restated a “neutral” rating and issued a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.30.

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.