Martingale Asset Management L P Sells 35,742 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Martingale Asset Management L P trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 58.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,963 shares of the financial services provider’s stock after selling 35,742 shares during the quarter. Martingale Asset Management L P’s holdings in Commerce Bancshares were worth $1,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CBSH. CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares during the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth $35,000. V Square Quantitative Management LLC increased its position in shares of Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 268 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Commerce Bancshares by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CBSH has been the subject of several recent analyst reports. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.17.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the completion of the transaction, the executive vice president now owns 45,511 shares of the company’s stock, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Kemper sold 26,042 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.10% of the stock is owned by corporate insiders.

Commerce Bancshares Trading Up 1.2 %

Shares of NASDAQ CBSH opened at $56.88 on Friday. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12 month low of $48.49 and a 12 month high of $72.75. The company has a 50 day simple moving average of $62.36 and a two-hundred day simple moving average of $64.12.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.93%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 27.43%.

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.