Commerce Bancshares, Inc. $CBSH Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 15.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,795 shares of the financial services provider’s stock after selling 64,794 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Commerce Bancshares were worth $20,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of Commerce Bancshares by 62.9% during the first quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock worth $50,775,000 after purchasing an additional 398,670 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after purchasing an additional 894,183 shares during the period. Verition Fund Management LLC grew its stake in Commerce Bancshares by 39.8% during the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock worth $33,078,000 after buying an additional 179,894 shares during the last quarter. Mosaic Family Wealth Partners LLC purchased a new position in Commerce Bancshares during the 1st quarter worth approximately $3,390,000. Finally, Principal Financial Group Inc. increased its position in Commerce Bancshares by 10.0% during the first quarter. Principal Financial Group Inc. now owns 305,900 shares of the financial services provider’s stock worth $15,050,000 after buying an additional 27,726 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $58.37 on Friday. The stock has a 50 day moving average of $58.77 and a two-hundred day moving average of $54.10. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $60.92. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 2.09 and a beta of 0.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The business had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s payout ratio is currently 26.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on CBSH. Wells Fargo & Company set a $63.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a report on Monday, August 10th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Piper Sandler reiterated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Finally, TD Cowen reissued a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.29.

Insider Buying and Selling

In other news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the sale, the executive vice president directly owned 55,962 shares of the company’s stock, valued at $3,368,912.40. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas D. Neff sold 666 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the transaction, the senior vice president directly owned 11,746 shares in the company, valued at $683,029.90. This represents a 5.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,150 shares of company stock worth $1,974,783 in the last three months. Company insiders own 1.80% of the company’s stock.

Commerce Bancshares 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.