Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,675,031 shares of the financial services provider's stock after buying an additional 745,661 shares during the period. American Century Companies Inc. owned approximately 2.87% of Commerce Bancshares worth $228,991,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CBSH. Principal Financial Group Inc. grew its stake in shares of Commerce Bancshares by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider's stock worth $17,512,000 after acquiring an additional 9,362 shares during the last quarter. Virtu Financial LLC purchased a new stake in Commerce Bancshares during the 3rd quarter worth approximately $566,000. Procyon Advisors LLC acquired a new position in Commerce Bancshares during the 4th quarter valued at approximately $200,000. PFW Advisors LLC purchased a new position in shares of Commerce Bancshares in the fourth quarter worth $1,336,000. Finally, Centiva Capital LP acquired a new stake in shares of Commerce Bancshares during the third quarter worth $581,000. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded down $0.42 during mid-day trading on Thursday, reaching $62.27. 409,966 shares of the stock were exchanged, compared to its average volume of 557,614. Commerce Bancshares, Inc. has a 1 year low of $48.49 and a 1 year high of $72.75. The business's 50 day moving average is $64.40 and its 200-day moving average is $64.43. The company has a market capitalization of $8.35 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.275 per share. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. Commerce Bancshares's dividend payout ratio (DPR) is 27.43%.

Insider Activity at Commerce Bancshares

In other news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the transaction, the senior vice president now directly owns 18,688 shares in the company, valued at approximately $1,257,702.40. This represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,434 shares of company stock valued at $5,248,272. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler lifted 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. Morgan Stanley decreased their target price on Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating for the company in a report on Thursday, March 13th. Wells Fargo & Company upped their target price 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. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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.