Smith Shellnut Wilson LLC ADV Sells 782 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Smith Shellnut Wilson LLC ADV lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,472 shares of the financial services provider’s stock after selling 782 shares during the quarter. Smith Shellnut Wilson LLC ADV’s holdings in Commerce Bancshares were worth $341,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new position in Commerce Bancshares during the 4th quarter valued at about $26,000. CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC lifted its stake in shares of Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake 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 worth $52,000 after acquiring an additional 268 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, Director June Mcallister Fowler sold 1,618 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now owns 3,175 shares in the company, valued at $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $60.82 on Tuesday. Commerce Bancshares, Inc. has a 1 year low of $50.06 and a 1 year high of $72.75. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.13 and a beta of 0.60. The firm’s 50-day moving average is $62.01 and its two-hundred day moving average is $63.30.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Piper Sandler raised their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Wells Fargo & Company decreased 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 report on Wednesday, April 9th. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $58.00 in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $63.20.

Commerce Bancshares Company 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.