American International Group Inc. Has $8.57 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

American International Group Inc. raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 160,424 shares of the financial services provider’s stock after acquiring an additional 539 shares during the period. American International Group Inc. owned approximately 0.12% of Commerce Bancshares worth $8,568,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. United Advisor Group LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $3,827,000. Speece Thorson Capital Group Inc. lifted its holdings in shares of Commerce Bancshares by 37.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock valued at $12,432,000 after purchasing an additional 63,266 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $1,176,000. Rafferty Asset Management LLC lifted its holdings in shares of Commerce Bancshares by 78.0% in the fourth quarter. Rafferty Asset Management LLC now owns 151,283 shares of the financial services provider’s stock valued at $8,080,000 after purchasing an additional 66,296 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in shares of Commerce Bancshares by 86.3% in the fourth quarter. Alberta Investment Management Corp now owns 50,106 shares of the financial services provider’s stock valued at $2,676,000 after purchasing an additional 23,209 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

CBSH has been the topic of a number of recent research reports. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Piper Sandler lifted their price target on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Raymond James upgraded 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. Finally, Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.29.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $56.77, for a total value of $1,509,003.37. Following the sale, the chief executive officer now directly owns 198,387 shares in the company, valued at $11,262,429.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $53.57 on Thursday. The firm has a market cap of $6.94 billion, a PE ratio of 14.94, a PEG ratio of 1.75 and a beta of 0.76. The stock’s fifty day moving average price is $54.82 and its two-hundred day moving average price is $53.36. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $57.48.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.54 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th were paid a $0.27 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.02%. Commerce Bancshares’s payout ratio is presently 30.12%.

About Commerce Bancshares

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.