Kestra Private Wealth Services LLC Buys 1,020 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Kestra Private Wealth Services LLC increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,868 shares of the financial services provider’s stock after buying an additional 1,020 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Commerce Bancshares were worth $864,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Stephens Inc. AR increased its holdings in Commerce Bancshares by 4.9% in the 4th quarter. Stephens Inc. AR now owns 11,433 shares of the financial services provider’s stock worth $712,000 after buying an additional 538 shares in the last quarter. Entropy Technologies LP bought a new stake in Commerce Bancshares in the 4th quarter worth about $428,000. Moloney Securities Asset Management LLC bought a new stake in Commerce Bancshares in the 4th quarter worth about $204,000. Wilmington Savings Fund Society FSB increased its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 8,402 shares of the financial services provider’s stock worth $524,000 after buying an additional 398 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Commerce Bancshares by 6.0% in the 4th quarter. Apollon Wealth Management LLC now owns 15,276 shares of the financial services provider’s stock worth $952,000 after buying an additional 871 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. StockNews.com raised 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. Finally, Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $67.83.

Insider Activity

In related news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the sale, the chief executive officer now owns 211,929 shares of the company’s stock, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,944 shares of company stock valued at $5,835,512 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $66.44 on Friday. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 2.27 and a beta of 0.80. The stock’s 50-day simple moving average is $65.11 and its two-hundred day simple moving average is $64.25. Commerce Bancshares, Inc. has a 52-week low of $47.79 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 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 analysts’ expectations of $417.48 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share 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. Stockholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 7th. 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.