Comerica Bank cut its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,247 shares of the financial services provider’s stock after selling 8,961 shares during the period. Comerica Bank owned 0.08% of Commerce Bancshares worth $4,902,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Capstone Asset Management Co. boosted its stake in Commerce Bancshares by 0.5% in the first quarter. Capstone Asset Management Co. now owns 7,220 shares of the financial services provider’s stock valued at $405,000 after buying an additional 37 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Commerce Bancshares by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock valued at $712,000 after buying an additional 42 shares in the last quarter. Bank of The Ozarks boosted its stake in Commerce Bancshares by 0.4% in the first quarter. Bank of The Ozarks now owns 20,027 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 74 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock valued at $175,000 after buying an additional 89 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Commerce Bancshares by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 7,354 shares of the financial services provider’s stock valued at $418,000 after buying an additional 103 shares in the last quarter. 61.42% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares, Inc. (CBSH) opened at 55.03 on Friday. The company has a 50-day moving average price of $56.86 and a 200 day moving average price of $56.39. Commerce Bancshares, Inc. has a 1-year low of $45.37 and a 1-year high of $60.61. The stock has a market capitalization of $5.59 billion, a P/E ratio of 19.94 and a beta of 0.81.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. During the same period last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that Commerce Bancshares, Inc. will post $2.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a $0.225 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.64%. Commerce Bancshares’s payout ratio is presently 32.64%.

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Several analysts have recently commented on the company. Barclays PLC reissued an “equal weight” rating and issued a $54.00 price target (down from $55.00) on shares of Commerce Bancshares in a report on Wednesday, July 12th. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Morgan Stanley raised their price objective on Commerce Bancshares from $48.00 to $49.00 and gave the company an “underweight” rating in a research note on Tuesday, June 6th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.50.

In other news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of Commerce Bancshares stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the transaction, the insider now directly owns 1,045,605 shares of the company’s stock, valued at $56,567,230.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of Commerce Bancshares stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,099 shares of company stock worth $2,643,431. Insiders own 4.30% of the company’s stock.

About Commerce Bancshares

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.

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

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