Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Mutual Advisors LLC

Mutual Advisors LLC increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 474,189 shares of the financial services provider’s stock after purchasing an additional 21,922 shares during the quarter. Commerce Bancshares comprises about 0.9% of Mutual Advisors LLC’s holdings, making the stock its 13th largest position. Mutual Advisors LLC’s holdings in Commerce Bancshares were worth $30,244,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth approximately $566,000. Centiva Capital LP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $581,000. Procyon Advisors LLC purchased a new position in Commerce Bancshares in the fourth quarter valued at $200,000. PFW Advisors LLC purchased a new stake in Commerce Bancshares during the 4th quarter worth about $1,336,000. Finally, Barclays PLC raised its position in Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 17,400 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction 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 that occurred on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,398 shares of company stock valued at $651,265 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CBSH shares. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.75.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $65.61 on Thursday. The firm’s fifty day moving average is $66.78 and its two-hundred day moving average is $63.62. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The firm has a market cap of $8.41 billion, a PE ratio of 17.09, a P/E/G ratio of 3.63 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last posted 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. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417,482 billion. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Research analysts predict that Commerce Bancshares, Inc. will post 3.91 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

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.