BLB&B Advisors LLC lessened its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,200 shares of the financial services provider’s stock after selling 800 shares during the quarter. BLB&B Advisors LLC’s holdings in Commerce Bancshares were worth $739,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Clarus Wealth Advisors purchased a new stake in Commerce Bancshares during the 2nd quarter valued at about $200,000. Segall Bryant & Hamill LLC purchased a new stake in Commerce Bancshares during the 1st quarter valued at about $204,000. Cullen Frost Bankers Inc. purchased a new stake in Commerce Bancshares during the 2nd quarter valued at about $206,000. Natixis purchased a new stake in Commerce Bancshares during the 2nd quarter valued at about $207,000. Finally, Martingale Asset Management L P acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $212,000. Institutional investors and hedge funds own 64.80% of the company’s stock.

Several equities analysts have recently issued reports on CBSH shares. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Barclays boosted their price objective on Commerce Bancshares from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, July 13th. Stephens reissued a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a report on Thursday, July 12th. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Wells Fargo & Co boosted their price objective on Commerce Bancshares from $57.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, June 26th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $65.22.

In related news, Director Jonathan M. Kemper sold 45,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $71.35, for a total value of $3,210,750.00. Following the completion of the transaction, the director now owns 902,348 shares of the company’s stock, valued at approximately $64,382,529.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 3,000 shares of the company’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $68.59, for a total value of $205,770.00. Following the completion of the transaction, the insider now directly owns 947,348 shares of the company’s stock, valued at approximately $64,978,599.32. The disclosure for this sale can be found here. Insiders sold a total of 69,931 shares of company stock valued at $4,920,470 in the last ninety days. 4.00% of the stock is currently owned by insiders.

Shares of CBSH stock opened at $61.64 on Friday. The stock has a market capitalization of $7.04 billion, a PE ratio of 22.70, a P/E/G ratio of 1.96 and a beta of 0.67. Commerce Bancshares, Inc. has a 52-week low of $54.24 and a 52-week high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The business had revenue of $331.47 million during the quarter, compared to analysts’ expectations of $330.91 million. Commerce Bancshares had a return on equity of 14.24% and a net margin of 28.84%. Sell-side analysts expect that Commerce Bancshares, Inc. will post 3.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Friday, September 7th were issued a $0.235 dividend. The ex-dividend date was Thursday, September 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.52%. Commerce Bancshares’s payout ratio is 33.94%.

Commerce Bancshares Profile

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

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

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