Mutual of America Capital Management LLC Has $3.77 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mutual of America Capital Management LLC reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,492 shares of the financial services provider’s stock after selling 3,090 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Commerce Bancshares worth $3,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 154 shares during the last quarter. Angeles Investment Advisors LLC lifted its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after buying an additional 217 shares during the period. Panagora Asset Management Inc. boosted its stake in Commerce Bancshares by 5.0% in the fourth quarter. Panagora Asset Management Inc. now owns 5,417 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 257 shares during the last quarter. Connectus Wealth LLC grew its holdings in Commerce Bancshares by 1.5% during the 4th quarter. Connectus Wealth LLC now owns 17,594 shares of the financial services provider’s stock worth $940,000 after acquiring an additional 266 shares during the period. Finally, Smith Shellnut Wilson LLC ADV raised its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 5,959 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 283 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 3,795 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now directly owns 50,293 shares in the company, valued at $3,256,471.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Commerce Bancshares news, CFO Charles G. Kim sold 5,282 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $65.00, for a total transaction of $343,330.00. Following the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert S. Holmes sold 3,795 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $3,256,471.75. The disclosure for this sale can be found here. Insiders have sold 49,612 shares of company stock valued at $3,184,609 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $61.90 on Monday. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86. The firm has a market cap of $8.02 billion, a P/E ratio of 17.24, a P/E/G ratio of 10.29 and a beta of 0.75. The stock’s 50-day moving average is $62.28 and its 200-day moving average is $57.05.

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

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

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.