Federated Hermes Inc. Decreases Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Federated Hermes Inc. cut its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,884 shares of the financial services provider’s stock after selling 635 shares during the quarter. Federated Hermes Inc.’s holdings in Commerce Bancshares were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Clarity Asset Management Inc. purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at approximately $43,000. Bessemer Group Inc. boosted its position in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares during the period. GAMMA Investing LLC grew its holdings in Commerce Bancshares by 156.5% in 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. Eagle Bay Advisors LLC increased its position in shares of Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 974 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 805 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP David L. Roller sold 861 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at $1,990,020.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP David L. Roller sold 861 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David L. Orf sold 2,102 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total value of $136,272.66. Following the transaction, the vice president now directly owns 19,140 shares of the company’s stock, valued at approximately $1,240,846.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,612 shares of company stock worth $3,184,609. 3.20% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Down 2.9 %

CBSH opened at $61.90 on Monday. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.86. The stock has a market cap of $8.02 billion, a PE ratio of 17.24, a PEG ratio of 10.29 and a beta of 0.75. The business has a 50 day moving average of $62.28 and a 200-day moving average of $57.05.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.90 by $0.17. The business had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s payout ratio is currently 30.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CBSH. Morgan Stanley boosted their price target on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $60.00.

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