Los Angeles Capital Management LLC Increases Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Los Angeles Capital Management LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 391,932 shares of the financial services provider's stock after purchasing an additional 29,032 shares during the quarter. Los Angeles Capital Management LLC owned about 0.31% of Commerce Bancshares worth $24,421,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 192 shares in the last quarter. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at $35,000. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares in the 3rd quarter valued at $39,000. True Wealth Design LLC bought a new stake in shares of Commerce Bancshares in the 3rd quarter valued at $47,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Up 1.5 %

CBSH stock traded up $0.94 during midday trading on Friday, reaching $65.03. 755,846 shares of the company's stock traded hands, compared to its average volume of 521,719. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 2.13 and a beta of 0.80. The firm's fifty day moving average price is $64.74 and its 200-day moving average price is $64.50. Commerce Bancshares, Inc. has a 52 week low of $47.89 and a 52 week high of $72.75.

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

Commerce Bancshares Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.69%. Commerce Bancshares's dividend payout ratio is currently 27.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBSH. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Piper Sandler boosted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of "Hold" and a consensus price target of $67.83.

Insider Activity

In related news, SVP Patricia R. Kellerhals sold 500 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,054 shares of company stock worth $5,771,192 over the last ninety days. Company insiders own 3.20% of the company's stock.

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.