Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Commerce Bank

Commerce Bank raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,222,818 shares of the financial services provider’s stock after purchasing an additional 196,431 shares during the period. Commerce Bancshares accounts for approximately 2.7% of Commerce Bank’s holdings, making the stock its 3rd biggest position. Commerce Bank owned approximately 5.53% of Commerce Bancshares worth $385,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advisors Inc. OK lifted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 210 shares during the last quarter. Signaturefd LLC lifted its stake in Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 213 shares during the last quarter. Missouri Trust & Investment Co lifted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Missouri Trust & Investment Co now owns 5,138 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 244 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Commerce Bancshares by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after purchasing an additional 250 shares during the last quarter. Finally, Delta Financial Group Inc. raised its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Delta Financial Group Inc. now owns 5,250 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 250 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of recent analyst reports. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a report on Wednesday, April 17th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Finally, Piper Sandler upped their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.29.

Commerce Bancshares Stock Performance

Shares of CBSH stock traded down $0.86 during mid-day trading on Thursday, reaching $55.14. The company’s stock had a trading volume of 180,685 shares, compared to its average volume of 463,689. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $57.48. The company has a market cap of $7.14 billion, a P/E ratio of 15.54, a PEG ratio of 1.87 and a beta of 0.76. The firm’s 50-day moving average is $53.95 and its two-hundred day moving average is $52.58.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.53 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s payout ratio is presently 30.12%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the completion of the sale, the chief executive officer now owns 198,387 shares in the company, valued at approximately $11,262,429.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Kemper sold 26,581 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the completion of the transaction, the chief executive officer now directly owns 198,387 shares in the company, valued at approximately $11,262,429.99. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares 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.