Speece Thorson Capital Group Inc. Cuts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

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Speece Thorson Capital Group Inc. reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 108,931 shares of the financial services provider’s stock after selling 2,761 shares during the period. Speece Thorson Capital Group Inc.’s holdings in Commerce Bancshares were worth $6,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its stake in shares of Commerce Bancshares by 5.9% during the first quarter. First Trust Advisors LP now owns 202,361 shares of the financial services provider’s stock worth $11,749,000 after buying an additional 11,336 shares during the period. Citadel Advisors LLC lifted its stake in shares of Commerce Bancshares by 21.3% during the second quarter. Citadel Advisors LLC now owns 10,588 shares of the financial services provider’s stock worth $632,000 after buying an additional 1,858 shares during the period. Arizona State Retirement System lifted its stake in shares of Commerce Bancshares by 0.7% during the second quarter. Arizona State Retirement System now owns 71,382 shares of the financial services provider’s stock worth $4,259,000 after buying an additional 508 shares during the period. Dearborn Partners LLC lifted its stake in shares of Commerce Bancshares by 4.1% during the second quarter. Dearborn Partners LLC now owns 387,194 shares of the financial services provider’s stock worth $23,100,000 after buying an additional 15,308 shares during the period. Finally, Stephens Inc. AR lifted its stake in shares of Commerce Bancshares by 6.2% during the second quarter. Stephens Inc. AR now owns 66,792 shares of the financial services provider’s stock worth $3,985,000 after buying an additional 3,924 shares during the period. 65.86% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on CBSH shares. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. DA Davidson lifted their price objective on shares of Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Thursday, October 3rd. Stephens reiterated a “hold” rating and set a $59.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, October 16th. Finally, Raymond James downgraded shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Monday, July 8th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $58.57.

In other Commerce Bancshares news, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.45, for a total value of $127,631.65. Following the completion of the transaction, the chief executive officer now owns 152,280 shares in the company, valued at $9,357,606. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $60.96, for a total transaction of $195,072.00. Following the completion of the transaction, the senior vice president now owns 17,120 shares of the company’s stock, valued at approximately $1,043,635.20. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

NASDAQ CBSH traded up $0.60 on Tuesday, reaching $63.85. 38,240 shares of the company’s stock traded hands, compared to its average volume of 541,129. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 5.65 and a beta of 0.75. The stock has a 50 day moving average price of $59.89 and a 200-day moving average price of $59.16. Commerce Bancshares, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $67.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $336.30 million during the quarter, compared to the consensus estimate of $337.31 million. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.04 dividend on an annualized basis and a yield of 1.63%. Commerce Bancshares’s dividend payout ratio is presently 27.51%.

About Commerce Bancshares

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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