KBC Group NV Buys 1,763 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

KBC Group NV increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 48.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,432 shares of the financial services provider’s stock after acquiring an additional 1,763 shares during the period. KBC Group NV’s holdings in Commerce Bancshares were worth $338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CBSH. Geode Capital Management LLC increased its holdings in shares of Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares in the last quarter. NFJ Investment Group LLC raised its position in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after buying an additional 106,316 shares during the last quarter. Mutual Advisors LLC raised its holdings in Commerce Bancshares by 4.8% during the fourth quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock worth $30,244,000 after acquiring an additional 21,922 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Commerce Bancshares by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 280,842 shares of the financial services provider’s stock worth $17,499,000 after acquiring an additional 12,905 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBSH has been the topic of several research reports. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.83.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,990 shares of company stock worth $2,475,680 in the last 90 days. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

CBSH stock opened at $65.87 on Tuesday. The firm has a 50 day simple moving average of $65.84 and a two-hundred day simple moving average of $64.07. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The stock has a market cap of $8.45 billion, a PE ratio of 16.43, a P/E/G ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is 26.93%.

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.