Isthmus Partners LLC Acquires 588 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Isthmus Partners LLC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,723 shares of the financial services provider’s stock after buying an additional 588 shares during the period. Isthmus Partners LLC’s holdings in Commerce Bancshares were worth $419,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CBSH. Farther Finance Advisors LLC increased its position in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after buying an additional 287 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $39,000. Atria Investments Inc increased its position in shares of Commerce Bancshares by 9.3% during the third quarter. Atria Investments Inc now owns 24,455 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 2,071 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Commerce Bancshares by 7,407.2% during 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 during the period. Finally, Keystone Financial Services bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $215,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $60.86 on Tuesday. The business’s fifty day moving average price is $64.68 and its two-hundred day moving average price is $64.59. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analysts’ expectations 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 was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. Research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.81%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is currently 27.43%.

Insiders Place Their Bets

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. The trade was a 13.53 % 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 hyperlink. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,016 shares of company stock valued at $5,422,811. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research reports. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.83.

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.