Oppenheimer Asset Management Inc. lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,534 shares of the financial services provider’s stock after buying an additional 470 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Commerce Bancshares were worth $538,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CBSH. Acadian Asset Management LLC lifted its holdings in Commerce Bancshares by 224.3% during the 3rd quarter. Acadian Asset Management LLC now owns 1,842 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,274 shares in the last quarter. Caxton Associates LP purchased a new stake in Commerce Bancshares during the 3rd quarter worth about $230,000. Mutual Advisors LLC purchased a new stake in Commerce Bancshares during the 3rd quarter worth about $237,000. Quantbot Technologies LP purchased a new stake in Commerce Bancshares during the 3rd quarter worth about $247,000. Finally, Retirement Capital Strategies lifted its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Retirement Capital Strategies now owns 4,548 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 62.08% of the company’s stock.

In other Commerce Bancshares news, VP Daniel D. Callahan sold 787 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $60.74, for a total value of $47,802.38. Following the sale, the vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,570,007.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kevin G. Barth sold 6,976 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $61.26, for a total value of $427,349.76. Following the completion of the sale, the insider now directly owns 79,126 shares in the company, valued at approximately $4,847,258.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,291 shares of company stock worth $3,638,888. Insiders own 4.00% of the company’s stock.

A number of brokerages recently issued reports on CBSH. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Raymond James raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. Barclays reissued a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a report on Friday, January 11th. Stephens reissued a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a report on Wednesday, December 19th. Finally, Morgan Stanley dropped their price objective on Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.49.

NASDAQ:CBSH opened at $60.62 on Tuesday. Commerce Bancshares, Inc. has a twelve month low of $53.40 and a twelve month high of $72.55. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 3.65 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Commerce Bancshares had a return on equity of 16.29% and a net margin of 31.18%. The firm had revenue of $345.31 million for the quarter, compared to analysts’ expectations of $335.66 million. During the same quarter last year, the firm posted $0.74 EPS. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 8th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.72%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.24. Commerce Bancshares’s dividend payout ratio (DPR) is presently 24.87%.

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About Commerce Bancshares

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

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Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSH).

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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