Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 46.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,227 shares of the financial services provider’s stock after purchasing an additional 1,984 shares during the quarter. Fisher Asset Management LLC’s holdings in Commerce Bancshares were worth $333,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CBSH. Norges Bank acquired a new position in Commerce Bancshares in the fourth quarter valued at $71,835,000. Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 22.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock valued at $89,541,000 after purchasing an additional 302,630 shares during the period. Cooke & Bieler LP boosted its holdings in shares of Commerce Bancshares by 32.4% in the fourth quarter. Cooke & Bieler LP now owns 972,255 shares of the financial services provider’s stock valued at $51,928,000 after acquiring an additional 237,703 shares in the last quarter. Commerce Bank boosted its holdings in shares of Commerce Bancshares by 2.8% in the fourth quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after acquiring an additional 196,431 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Commerce Bancshares by 147.7% in the third quarter. Walleye Capital LLC now owns 296,634 shares of the financial services provider’s stock valued at $14,232,000 after purchasing an additional 176,897 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $54.10 on Tuesday. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $57.48. The company has a 50 day moving average price of $54.96 and a 200 day moving average price of $53.42. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $389.49 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. Commerce Bancshares’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.54 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction that occurred on 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 owns 198,387 shares of the company’s stock, valued at $11,262,429.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.