Commerce Bancshares, Inc. (NASDAQ:CBSH) Holdings Trimmed by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,560 shares of the financial services provider’s stock after selling 1,083 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of Commerce Bancshares worth $4,204,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kapitalo Investimentos Ltda purchased a new position in shares of Commerce Bancshares during the fourth quarter valued at $26,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares during the 4th quarter worth about $33,000. Nomura Asset Management Co. Ltd. grew its stake in 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 acquiring an additional 268 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $68,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $113,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.1%

Commerce Bancshares stock opened at $62.17 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 1-year low of $52.27 and a 1-year high of $72.75. The firm’s fifty day simple moving average is $62.53 and its 200-day simple moving average is $62.77. The company has a market capitalization of $8.30 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.74 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. The firm had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, June 6th. Commerce Bancshares’s payout ratio is 26.63%.

Insiders Place Their Bets

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director owned 3,175 shares of the company’s stock, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBSH shares. Piper Sandler boosted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Wells Fargo & Company lowered their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Bank of America increased their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Morgan Stanley boosted their target price on Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.00.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.