Barclays PLC Buys 37,379 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Barclays PLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 35.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,313 shares of the financial services provider's stock after purchasing an additional 37,379 shares during the quarter. Barclays PLC owned approximately 0.11% of Commerce Bancshares worth $8,992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CoreFirst Bank & Trust purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at $33,000. Marshall Investment Management LLC bought a new stake in Commerce Bancshares in the 4th quarter valued at about $35,000. V Square Quantitative Management LLC lifted its holdings in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 361 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after purchasing an additional 268 shares during the period. Finally, GAMMA Investing LLC boosted its position in Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock worth $71,000 after purchasing an additional 187 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP John K. Handy sold 2,722 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 39,638 shares in the company, valued at approximately $2,643,061.84. The trade was a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. This represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,434 shares of company stock worth $5,248,272. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CBSH. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Piper Sandler increased their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Stock Up 2.3 %

NASDAQ:CBSH opened at $60.09 on Wednesday. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The stock has a market cap of $8.06 billion, a P/E ratio of 14.99, a PEG ratio of 2.13 and a beta of 0.71. The business's 50-day moving average price is $61.25 and its two-hundred day moving average price is $64.16.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.275 per share. 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 dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares's payout ratio is currently 26.63%.

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.

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