Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 22.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,208 shares of the financial services provider's stock after purchasing an additional 8,437 shares during the period. Alberta Investment Management Corp's holdings in Commerce Bancshares were worth $2,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sound Stewardship LLC lifted its stake in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 163 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 166 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 183 shares in the last quarter. Verde Capital Management lifted its stake in shares of Commerce Bancshares by 5.4% in the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock valued at $223,000 after purchasing an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC lifted 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 valued at $71,000 after purchasing an additional 187 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Chairman David W. Kemper sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the sale, the chairman now directly owns 23,725 shares in the company, valued at approximately $1,642,244.50. The trade was a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the business's 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 completion of the sale, the chief executive officer now owns 211,929 shares of the company's stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock worth $5,771,192 in the last three months. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Up 0.2 %

CBSH stock traded up $0.10 during midday trading on Monday, hitting $64.09. 602,709 shares of the company's stock were exchanged, compared to its average volume of 519,203. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The firm has a 50 day moving average price of $64.72 and a 200-day moving average price of $64.45. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the business earned $0.84 EPS. Commerce Bancshares's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast 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 issued 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 annualized dividend and a yield of 1.72%. Commerce Bancshares's payout ratio is currently 26.93%.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective 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. Wells Fargo & Company boosted their price target 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 lowered Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Finally, Piper Sandler boosted their price target 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.