5,074 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Fulton Bank N.A.

Fulton Bank N.A. bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,074 shares of the financial services provider’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Commerce Bancshares in the fourth quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at $35,000. Clarity Asset Management Inc. bought a new position in shares of Commerce Bancshares in the 4th quarter valued at $43,000. Exchange Traded Concepts LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter worth $55,000. Finally, Signaturefd LLC lifted its position in shares of Commerce Bancshares by 14.4% during the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after buying an additional 213 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $55.29.

Commerce Bancshares Stock Up 1.2 %

NASDAQ:CBSH opened at $54.09 on Friday. The company has a fifty day moving average of $54.91 and a 200-day moving average of $53.38. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $57.48. The firm has a market capitalization of $7.01 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.75 and a beta of 0.76.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.00%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the company’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 directly owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by insiders.

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.