Parametrica Management Ltd cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 25.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,402 shares of the financial services provider’s stock after selling 1,505 shares during the period. Parametrica Management Ltd’s holdings in Commerce Bancshares were worth $254,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of Commerce Bancshares by 13.8% in the third quarter. Victory Capital Management Inc. now owns 33,971 shares of the financial services provider’s stock valued at $1,963,000 after acquiring an additional 4,109 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Commerce Bancshares in the third quarter valued at about $478,000. Speece Thorson Capital Group Inc. grew its stake in shares of Commerce Bancshares by 1.1% in the third quarter. Speece Thorson Capital Group Inc. now owns 150,323 shares of the financial services provider’s stock valued at $8,684,000 after acquiring an additional 1,607 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Commerce Bancshares by 2.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 59,238 shares of the financial services provider’s stock valued at $3,422,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Commerce Bancshares in the third quarter valued at about $612,000. Institutional investors and hedge funds own 62.13% of the company’s stock.

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CBSH has been the topic of several research reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, September 5th. Barclays PLC set a $58.00 price target on shares of Commerce Bancshares and gave the company a “hold” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research note on Friday, September 15th. Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.63.

In other news, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the sale, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $57.85 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $5.91 billion, a PE ratio of 20.61, a PEG ratio of 3.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. Commerce Bancshares’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. equities research analysts expect that Commerce Bancshares, Inc. will post 2.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Thursday, November 30th will be given a $0.225 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.56%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 31.91%.

Commerce Bancshares Profile

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.

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

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