Concurrent Investment Advisors LLC Purchases 2,327 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Concurrent Investment Advisors LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,607 shares of the financial services provider’s stock after purchasing an additional 2,327 shares during the period. Concurrent Investment Advisors LLC’s holdings in Commerce Bancshares were worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CBSH. Los Angeles Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after purchasing an additional 358,066 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares in the last quarter. Geode Capital Management LLC lifted 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 lifted its holdings in shares of Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in Commerce Bancshares during the third quarter worth about $6,087,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 approximately $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the transaction, the chairman now directly owns 23,725 shares in the company, valued at $1,642,244.50. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,054 shares of company stock valued at $5,771,192. 3.20% of the stock is owned by insiders.

Commerce Bancshares Stock Down 1.4 %

NASDAQ:CBSH opened at $64.00 on Friday. The stock’s 50 day moving average price is $64.79 and its two-hundred day moving average price is $64.36. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.17 and a beta of 0.80. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates 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 for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.93 EPS for the current 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 paid a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.72%. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

Analysts Set New Price Targets

Several research firms recently issued reports on CBSH. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. 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 report on Wednesday, January 29th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.83.

Commerce Bancshares 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.