Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.69 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,059 shares of the financial services provider’s stock after purchasing an additional 1,199 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Commerce Bancshares were worth $1,686,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CBSH. Pathstone Holdings LLC raised its holdings in Commerce Bancshares by 5.4% during the 3rd quarter. Pathstone Holdings LLC now owns 29,020 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 1,492 shares during the period. Raymond James Trust N.A. increased its position in shares of Commerce Bancshares by 7.0% during the third quarter. Raymond James Trust N.A. now owns 4,452 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 292 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Commerce Bancshares by 11.7% during the third quarter. Citigroup Inc. now owns 130,134 shares of the financial services provider’s stock worth $7,730,000 after acquiring an additional 13,681 shares during the period. Cerity Partners LLC lifted its position in Commerce Bancshares by 40.7% in the 3rd quarter. Cerity Partners LLC now owns 74,872 shares of the financial services provider’s stock valued at $4,447,000 after acquiring an additional 21,664 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Commerce Bancshares by 9.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,557 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 642 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.4 %

NASDAQ:CBSH opened at $62.85 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $48.49 and a 12-month high of $72.75. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 2.13 and a beta of 0.78. The stock’s 50 day moving average price is $64.43 and its two-hundred day moving average price is $64.44.

Commerce Bancshares (NASDAQ:CBSH) last posted 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. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter in the prior year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

Insider Buying and Selling

In related news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the sale, the executive vice president now directly owns 45,511 shares of the company’s stock, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John K. Handy sold 2,722 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $66.68, for a total value of $181,502.96. Following the completion of the transaction, the executive vice president now directly owns 39,638 shares in the company, valued at approximately $2,643,061.84. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,434 shares of company stock valued at $5,248,272. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CBSH shares. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.17.

About Commerce Bancshares

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.