ProShare Advisors LLC Sells 58,153 Shares of Commerce Bancshares, Inc. $CBSH

ProShare Advisors LLC decreased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 11.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 467,398 shares of the financial services provider’s stock after selling 58,153 shares during the quarter. ProShare Advisors LLC owned 0.33% of Commerce Bancshares worth $25,585,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CBSH. BlackRock Inc. acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $755,669,000. Commerce Bank acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth approximately $316,010,000. Bank of America Corp DE purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at approximately $83,328,000. Bank of New York Mellon Corp purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at approximately $54,444,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Commerce Bancshares by 29.3% during 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 buying an additional 894,183 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $58.15, for a total value of $38,727.90. Following the sale, the senior vice president owned 11,746 shares of the company’s stock, valued at $683,029.90. The trade was a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Orf sold 642 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the transaction, the vice president owned 24,962 shares in the company, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $55.80 on Tuesday. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The stock has a market cap of $8.00 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.66 and a beta of 0.60. The firm has a fifty day moving average price of $56.35 and a 200 day moving average price of $54.45.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Commerce Bancshares had a return on equity of 14.27% and a net margin of 26.06%. The firm had revenue of $494.34 million for the quarter, compared to analysts’ expectations of $496.75 million. During the same quarter in the previous year, the firm posted $1.06 EPS. Sell-side analysts expect that Commerce Bancshares, Inc. will post 4.27 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, December 1st will be paid a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st. Commerce Bancshares’s payout ratio is currently 26.51%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CBSH. TD Cowen restated 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. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Stephens set a $62.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Raymond James Financial raised shares of Commerce Bancshares to a “hold” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley boosted their price target on shares of Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.64.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.