Telemus Capital LLC Lowers Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Telemus Capital LLC trimmed its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,618 shares of the financial services provider’s stock after selling 2,591 shares during the period. Telemus Capital LLC’s holdings in Commerce Bancshares were worth $460,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in Commerce Bancshares in the 4th quarter valued at about $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $35,000. Adirondack Trust Co. purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $44,000. Exchange Traded Concepts LLC purchased a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $55,000. Finally, Signaturefd LLC lifted its position in shares of Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 213 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP John K. Handy sold 1,508 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $54.79, for a total value of $82,623.32. Following the completion of the transaction, the executive vice president now owns 46,524 shares in the company, valued at $2,549,049.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John K. Handy sold 1,508 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $54.79, for a total transaction of $82,623.32. Following the sale, the executive vice president now owns 46,524 shares of the company’s stock, valued at approximately $2,549,049.96. The disclosure for this sale can be found here. Insiders sold 13,899 shares of company stock worth $729,206 over the last 90 days. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

CBSH has been the subject of several research reports. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research report on Wednesday, April 17th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Bank of America started coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price for the company. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley increased their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $55.00.

Commerce Bancshares Stock Up 2.0 %

CBSH opened at $54.92 on Tuesday. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 15.32 and a beta of 0.79. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $56.75. The firm’s fifty day simple moving average is $52.14 and its two-hundred day simple moving average is $51.10.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.97%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

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.