Victory Capital Management Inc. Has $5.55 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Victory Capital Management Inc. lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,125 shares of the financial services provider’s stock after acquiring an additional 1,052 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Commerce Bancshares worth $5,553,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Commerce Bancshares by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock valued at $17,512,000 after buying an additional 9,362 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Commerce Bancshares during the third quarter worth $566,000. Procyon Advisors LLC bought a new position in Commerce Bancshares in the fourth quarter valued at about $200,000. PFW Advisors LLC acquired a new stake in Commerce Bancshares during the 4th quarter worth approximately $1,336,000. Finally, Centiva Capital LP acquired a new stake in Commerce Bancshares in the third quarter valued at $581,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CBSH shares. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler lifted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley reduced their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.17.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $67.69, for a total transaction of $67,690.00. Following the completion of the transaction, the senior vice president now owns 21,265 shares of the company’s stock, valued at $1,439,427.85. This trade represents a 4.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,016 shares of company stock worth $5,422,811. 3.20% of the stock is currently owned by company insiders.

Commerce Bancshares Trading Up 3.2 %

Shares of CBSH opened at $60.71 on Friday. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The company has a market cap of $8.13 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The stock has a 50-day moving average price of $64.49 and a 200-day moving average price of $64.49.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the company earned $0.84 EPS. The company’s revenue was up 7.3% on a year-over-year basis. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

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.