Boston Trust Walden Corp Buys 219,826 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,468,854 shares of the financial services provider's stock after buying an additional 219,826 shares during the period. Boston Trust Walden Corp owned about 1.15% of Commerce Bancshares worth $91,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new position in Commerce Bancshares during the 2nd quarter valued at about $207,000. Millennium Management LLC grew its stake in Commerce Bancshares by 168.3% during the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider's stock valued at $19,081,000 after acquiring an additional 214,582 shares in the last quarter. Algert Global LLC purchased a new position in Commerce Bancshares during the 2nd quarter valued at about $693,000. Cetera Investment Advisers grew its stake in shares of Commerce Bancshares by 77.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider's stock valued at $3,148,000 after buying an additional 24,569 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Commerce Bancshares in the 2nd quarter valued at approximately $1,755,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 3,708 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $66.16, for a total value of $245,321.28. Following the transaction, the chairman now directly owns 1,208,311 shares of the company's stock, valued at $79,941,855.76. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,698 shares of company stock valued at $2,721,001 in the last three months. 3.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBSH. Wells Fargo & Company upped 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. Piper Sandler upped 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. Raymond James cut Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, Commerce Bancshares currently has an average rating of "Hold" and an average price target of $67.83.

Commerce Bancshares Trading Up 2.4 %

Shares of NASDAQ CBSH traded up $1.58 during mid-day trading on Tuesday, reaching $67.45. 474,710 shares of the company's stock were exchanged, compared to its average volume of 550,560. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.21 and a beta of 0.80. The business has a fifty day simple moving average of $65.71 and a 200 day simple moving average of $64.10. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, March 7th. Commerce Bancshares's dividend payout ratio is currently 26.93%.

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.