Thrivent Financial for Lutherans Has $3.49 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Thrivent Financial for Lutherans lessened its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,950 shares of the financial services provider's stock after selling 6,168 shares during the period. Thrivent Financial for Lutherans' holdings in Commerce Bancshares were worth $3,486,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CBSH. Marshall Investment Management LLC acquired a new position in Commerce Bancshares during the fourth quarter worth about $35,000. True Wealth Design LLC acquired a new position in shares of Commerce Bancshares in the 3rd quarter worth approximately $47,000. V Square Quantitative Management LLC raised its holdings 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 worth $49,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 valued at $71,000 after purchasing an additional 187 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Commerce Bancshares by 35.3% during the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider's stock worth $100,000 after buying an additional 439 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kevin G. Barth sold 24,870 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the sale, the executive vice president now owns 45,511 shares of the company's stock, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction, the senior vice president now owns 18,688 shares of the company's stock, valued at approximately $1,257,702.40. This represents a 8.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 in the last ninety days. Insiders own 3.10% of the company's stock.

Commerce Bancshares Trading Down 1.0 %

Commerce Bancshares stock traded down $0.65 on Friday, reaching $61.62. 412,403 shares of the stock were exchanged, compared to its average volume of 577,487. The stock has a market cap of $8.26 billion, a PE ratio of 15.37, a PEG ratio of 2.13 and a beta of 0.78. The firm has a fifty day moving average price of $64.30 and a two-hundred day moving average price of $64.46. Commerce Bancshares, Inc. has a twelve month low of $48.49 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 for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS 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 paid a dividend of $0.275 per share. 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 1.79%. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares's dividend payout ratio is presently 27.43%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CBSH. Wells Fargo & Company upped their price target on Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. Raymond James lowered Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their price target on Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating on the stock in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $68.17.

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.