Third Avenue Management LLC decreased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 139,306 shares of the financial services provider’s stock after selling 13,400 shares during the quarter. Third Avenue Management LLC owned 0.14% of Commerce Bancshares worth $7,917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBSH. Suntrust Banks Inc. grew its holdings in shares of Commerce Bancshares by 3.3% in the 1st quarter. Suntrust Banks Inc. now owns 5,758 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 182 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Commerce Bancshares by 2.1% in the 1st quarter. World Asset Management Inc now owns 5,418 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 112 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Commerce Bancshares by 9.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 68,404 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 5,898 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Commerce Bancshares by 11.2% in the 1st quarter. Ameriprise Financial Inc. now owns 262,227 shares of the financial services provider’s stock worth $14,722,000 after purchasing an additional 26,390 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Commerce Bancshares by 53.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 186,115 shares of the financial services provider’s stock worth $10,452,000 after purchasing an additional 64,562 shares during the last quarter. 62.20% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on CBSH shares. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 target price on shares of Commerce Bancshares in a report on Friday, July 14th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 target price (up previously from $52.00) on shares of Commerce Bancshares in a report on Monday, July 17th. BidaskClub lowered shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Barclays PLC set a $58.00 target price on shares of Commerce Bancshares and gave the stock a “hold” rating in a report on Sunday, July 16th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.25.

In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now owns 12,828 shares in the company, valued at $703,230.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffery D. Aberdeen sold 687 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total value of $40,594.83. Following the completion of the transaction, the insider now owns 40,232 shares in the company, valued at approximately $2,377,308.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,819 shares of company stock worth $1,174,728. Company insiders own 4.30% of the company’s stock.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded up 0.63% on Friday, reaching $57.77. 566,399 shares of the company traded hands. Commerce Bancshares, Inc. has a one year low of $47.64 and a one year high of $60.61. The firm’s 50 day moving average is $55.42 and its 200 day moving average is $55.91. The company has a market capitalization of $5.87 billion, a P/E ratio of 20.93 and a beta of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter last year, the business earned $0.70 earnings per share. Commerce Bancshares’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is presently 32.64%.

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Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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

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