Angeles Investment Advisors LLC Reduces Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Angeles Investment Advisors LLC lessened its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,880 shares of the financial services provider’s stock after selling 677 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Commerce Bancshares were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares in the third quarter valued at $26,000. Allworth Financial LP boosted its position in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares during the third quarter valued at approximately $39,000. Bessemer Group Inc. raised its holdings in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $71.97 on Thursday. The company has a 50 day moving average price of $62.05 and a 200-day moving average price of $59.54. Commerce Bancshares, Inc. has a fifty-two week low of $44.48 and a fifty-two week high of $73.31. The stock has a market capitalization of $9.23 billion, a PE ratio of 18.74, a PEG ratio of 3.90 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Equities research analysts forecast that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.50%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the transaction, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at $2,650,762.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,331 shares of company stock valued at $2,062,778. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $61.79.

About Commerce Bancshares

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.