Midwest Trust Co Has $8.93 Million Holdings in Commerce Bancshares, Inc. $CBSH

Midwest Trust Co decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 149,455 shares of the financial services provider’s stock after selling 22,130 shares during the period. Midwest Trust Co owned 0.11% of Commerce Bancshares worth $8,931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Commerce Bancshares during the second quarter valued at approximately $89,282,000. Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares by 28.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,903,362 shares of the financial services provider’s stock worth $113,745,000 after buying an additional 420,053 shares during the period. Qube Research & Technologies Ltd grew its stake in Commerce Bancshares by 172.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 405,531 shares of the financial services provider’s stock valued at $25,212,000 after buying an additional 256,650 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Commerce Bancshares in the 2nd quarter valued at $10,331,000. Finally, Voya Investment Management LLC raised its holdings in Commerce Bancshares by 95.0% in the 3rd quarter. Voya Investment Management LLC now owns 194,642 shares of the financial services provider’s stock worth $11,632,000 after acquiring an additional 94,841 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on CBSH shares. TD Cowen decreased their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th. Wells Fargo & Company dropped their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Zacks Research lowered shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $61.75.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 2,092 shares of Commerce Bancshares stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total value of $111,545.44. Following the completion of the transaction, the senior vice president owned 28,933 shares in the company, valued at approximately $1,542,707.56. The trade was a 6.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 23,397 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the transaction, the chief executive officer owned 206,528 shares in the company, valued at approximately $11,150,446.72. This trade represents a 10.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,667 shares of company stock worth $1,493,323 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $54.91 on Wednesday. The firm has a market cap of $7.27 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. The firm’s 50-day simple moving average is $53.38 and its 200-day simple moving average is $54.43. Commerce Bancshares, Inc. has a twelve month low of $48.69 and a twelve month high of $64.22.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm had revenue of $449.36 million during the quarter, compared to analyst estimates of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. On average, equities 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 will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.