Parallel Advisors LLC trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,377 shares of the financial services provider’s stock after selling 165 shares during the quarter. Parallel Advisors LLC’s holdings in Commerce Bancshares were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Moloney Securities Asset Management LLC grew its stake in Commerce Bancshares by 153.8% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 10,235 shares of the financial services provider’s stock worth $621,000 after buying an additional 6,202 shares during the last quarter. Texas Permanent School Fund grew its stake in Commerce Bancshares by 0.7% during the 3rd quarter. Texas Permanent School Fund now owns 67,228 shares of the financial services provider’s stock worth $4,077,000 after buying an additional 479 shares during the last quarter. California Public Employees Retirement System grew its stake in Commerce Bancshares by 29.5% during the 3rd quarter. California Public Employees Retirement System now owns 235,220 shares of the financial services provider’s stock worth $14,266,000 after buying an additional 53,615 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Commerce Bancshares by 13.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,956 shares of the financial services provider’s stock worth $240,000 after buying an additional 463 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its stake in Commerce Bancshares by 2,682.1% during the 3rd quarter. State of Tennessee Treasury Department now owns 974,278 shares of the financial services provider’s stock worth $5,909,000 after buying an additional 939,259 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Commerce Bancshares stock traded down $0.08 during trading hours on Friday, hitting $66.26. 351,400 shares of the stock traded hands, compared to its average volume of 447,861. The firm’s 50 day moving average price is $62.02 and its 200-day moving average price is $59.67. Commerce Bancshares, Inc. has a 1 year low of $53.40 and a 1 year high of $67.50. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 5.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The business had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $337.31 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Research analysts forecast that Commerce Bancshares, Inc. will post 3.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.57%. Commerce Bancshares’s payout ratio is currently 27.51%.

Several research analysts recently weighed in on the company. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley dropped their target price on Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Thursday, October 3rd. DA Davidson boosted their target price on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Finally, Stephens restated a “hold” rating and set a $59.00 target price on shares of Commerce Bancshares in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.57.

In other Commerce Bancshares news, VP Daniel D. Callahan sold 4,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $65.70, for a total transaction of $262,800.00. Following the completion of the transaction, the vice president now owns 16,997 shares of the company’s stock, valued at $1,116,702.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeffrey M. Burik sold 3,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total value of $195,072.00. Following the transaction, the senior vice president now directly owns 17,120 shares of the company’s stock, valued at approximately $1,043,635.20. The disclosure for this sale can be found here. Insiders have sold 42,347 shares of company stock valued at $2,712,104 in the last three months. Insiders own 3.60% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank 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 banking services.

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

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