Raymond James Financial Services Advisors Inc. reduced its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 17.6% in the 1st quarter, Holdings Channel reports. The firm owned 40,429 shares of the financial services provider's stock after selling 8,624 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Commerce Bancshares were worth $2,894,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of Commerce Bancshares by 81.8% during the first quarter. Quadrant Capital Group LLC now owns 651 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 293 shares in the last quarter. Signaturefd LLC grew its stake in shares of Commerce Bancshares by 36.0% during the first quarter. Signaturefd LLC now owns 672 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 178 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Commerce Bancshares by 71.8% during the first quarter. National Bank of Canada FI now owns 725 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 303 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in shares of Commerce Bancshares by 274.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 819 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 600 shares in the last quarter. Finally, MCF Advisors LLC acquired a new stake in shares of Commerce Bancshares during the first quarter valued at about $96,000. 68.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Robert S. Holmes sold 2,000 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $70.45, for a total transaction of $140,900.00. Following the sale, the executive vice president now owns 43,058 shares of the company's stock, valued at $3,033,436.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Commerce Bancshares news, Director Blackford F. Brauer purchased 5,000 shares of the business's stock in a transaction dated Wednesday, July 27th. The shares were bought at an average price of $68.87 per share, with a total value of $344,350.00. Following the completion of the acquisition, the director now owns 16,027 shares in the company, valued at approximately $1,103,779.49. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert S. Holmes sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $70.45, for a total transaction of $140,900.00. Following the transaction, the executive vice president now owns 43,058 shares in the company, valued at approximately $3,033,436.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,474 shares of company stock valued at $464,244. Insiders own 3.20% of the company's stock.

Commerce Bancshares Stock Down 0.6 %

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Commerce Bancshares had a net margin of 32.88% and a return on equity of 14.98%. The firm had revenue of $371.80 million for the quarter, compared to analysts' expectations of $362.50 million. During the same quarter last year, the company posted $1.38 earnings per share. Commerce Bancshares's revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.04 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.55%. Commerce Bancshares's dividend payout ratio is currently 27.39%.

Analysts Set New Price Targets

A number of research firms recently commented on CBSH. Jefferies Financial Group decreased their price target on Commerce Bancshares from $75.00 to $71.00 in a research note on Monday, July 11th. DA Davidson lifted their price target on Commerce Bancshares to $71.00 in a research note on Monday, July 25th. Finally, StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, July 18th.

About Commerce Bancshares

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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.

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