Commonwealth Equity Services LLC Acquires 3,387 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commonwealth Equity Services LLC increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,909 shares of the financial services provider’s stock after buying an additional 3,387 shares during the period. Commonwealth Equity Services LLC’s holdings in Commerce Bancshares were worth $2,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Marshall Investment Management LLC acquired a new position in Commerce Bancshares in the 4th quarter valued at $35,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the third quarter worth $47,000. V Square Quantitative Management LLC raised its stake in Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC lifted its position in Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares during the period. Finally, Blue Trust Inc. grew its stake in Commerce Bancshares by 35.3% during the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after buying an additional 439 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CBSH shares. Morgan Stanley dropped 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 report on Thursday, March 13th. Wells Fargo & Company upped their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Piper Sandler raised their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.17.

Commerce Bancshares Stock Down 0.7 %

NASDAQ CBSH opened at $62.27 on Friday. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a twelve month low of $48.49 and a twelve month high of $72.75. The business’s fifty day moving average is $64.37 and its 200 day moving average is $64.41.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. Commerce Bancshares’s payout ratio is presently 27.43%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP John K. Handy sold 2,722 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $66.68, for a total transaction of $181,502.96. Following the completion of the sale, the executive vice president now owns 39,638 shares of the company’s stock, valued at approximately $2,643,061.84. This represents a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the transaction, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. This trade represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is currently owned by company insiders.

Commerce Bancshares Company 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.