JPMorgan Chase & Co. Has $99.36 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

JPMorgan Chase & Co. raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,594,670 shares of the financial services provider's stock after buying an additional 182,423 shares during the quarter. JPMorgan Chase & Co. owned 1.24% of Commerce Bancshares worth $99,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in shares of Commerce Bancshares by 25.5% in the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the period. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares during the period. Boston Trust Walden Corp raised its holdings in Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider's stock worth $91,524,000 after purchasing an additional 219,826 shares during the period. Raymond James Financial Inc. bought a new position in shares of Commerce Bancshares during the fourth quarter worth $10,387,000. Finally, Geode Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock valued at $142,951,000 after buying an additional 163,782 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 3,708 shares of Commerce Bancshares stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $66.16, for a total transaction of $245,321.28. Following the completion of the transaction, the chairman now directly owns 1,208,311 shares of the company's stock, valued at $79,941,855.76. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the sale, the executive vice president now owns 45,511 shares of the company's stock, 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 valued at $5,248,272. Insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded up $0.43 during trading on Monday, hitting $55.85. The stock had a trading volume of 858,075 shares, compared to its average volume of 581,826. The company has a market capitalization of $7.49 billion, a PE ratio of 13.93, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12 month low of $48.49 and a 12 month high of $72.75. The company's 50-day moving average price is $63.52 and its two-hundred day moving average price is $64.33.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping 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 net margin of 25.24% and a return on equity of 16.31%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's dividend payout ratio is presently 27.43%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. StockNews.com cut Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Tuesday, April 1st. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $66.00 to $58.00 in a research report on Monday. Raymond James downgraded shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, Commerce Bancshares currently has an average rating of "Hold" and an average price target of $66.83.

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.