Sei Investments Co. Acquires 151,682 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sei Investments Co. boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 20.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 877,808 shares of the financial services provider’s stock after acquiring an additional 151,682 shares during the period. Sei Investments Co. owned 0.68% of Commerce Bancshares worth $54,696,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CBSH. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at approximately $35,000. True Wealth Design LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at $47,000. V Square Quantitative Management LLC grew its position in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after buying an additional 361 shares during the period. GAMMA Investing LLC increased its stake in shares of Commerce Bancshares by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 187 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Commerce Bancshares by 35.3% during the 4th quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 439 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Morgan Stanley cut their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.17.

Commerce Bancshares Stock Performance

CBSH opened at $61.24 on Monday. The company’s 50-day simple moving average is $64.42 and its two-hundred day simple moving average is $64.43. The stock has a market capitalization of $8.21 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 52-week low of $48.49 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data 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. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is 27.43%.

Insider Activity at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the transaction, the chief executive officer now owns 211,929 shares in the company, valued at $14,258,583.12. This represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction 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. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is owned by 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.