69,311 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 69,311 shares of the financial services provider’s stock, valued at approximately $4,319,000.

Several other large investors have also recently bought and sold shares of CBSH. Geode Capital Management LLC boosted 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 acquiring an additional 163,782 shares in the last quarter. Boston Trust Walden Corp lifted its position in 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 worth $91,524,000 after purchasing an additional 219,826 shares during the period. NFJ Investment Group LLC boosted its stake in Commerce Bancshares by 17.7% during the 3rd 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. Mutual Advisors LLC increased its position in shares of Commerce Bancshares by 4.8% during the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock valued at $30,244,000 after purchasing an additional 21,922 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after buying an additional 358,066 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In related news, CEO John W. Kemper sold 26,042 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now owns 211,929 shares of the company’s stock, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following 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. In the last quarter, insiders have sold 73,451 shares of company stock worth $4,921,226. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBSH. Keefe, Bruyette & Woods raised 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. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler increased their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company increased 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. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.83.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $66.73 on Tuesday. The firm’s 50 day moving average price is $65.24 and its two-hundred day moving average price is $64.21. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.27 and a beta of 0.80. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75.

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 the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%. Commerce Bancshares’s payout ratio is presently 26.93%.

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.