Mountain Pacific Investment Advisers LLC Purchases 1,016 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mountain Pacific Investment Advisers LLC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 33,531 shares of the financial services provider’s stock after purchasing an additional 1,016 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Commerce Bancshares were worth $2,089,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP boosted its stake in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Commerce Bancshares during the 3rd quarter worth approximately $39,000. True Wealth Design LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $47,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 1.7 %

CBSH stock opened at $64.85 on Tuesday. The firm has a 50 day moving average of $67.04 and a 200-day moving average of $63.53. The firm has a market capitalization of $8.32 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,398 shares of company stock valued at $651,265. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CBSH. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $66.75.

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.