Cooke & Bieler LP Purchases 7,280 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cooke & Bieler LP grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 899,166 shares of the financial services provider's stock after buying an additional 7,280 shares during the period. Cooke & Bieler LP owned approximately 0.70% of Commerce Bancshares worth $56,027,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth $39,000. True Wealth Design LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth $47,000. V Square Quantitative Management LLC grew its holdings in shares of Commerce Bancshares by 84.0% during 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. Finally, Farther Finance Advisors LLC grew its holdings in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock worth $52,000 after purchasing an additional 287 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Wall Street Analyst Weigh In

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

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Commerce Bancshares Trading Down 2.2 %

Commerce Bancshares stock opened at $60.86 on Tuesday. The company has a market capitalization of $8.15 billion, a PE ratio of 15.18, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75. The stock has a 50-day moving average price of $64.68 and a two-hundred day moving average price of $64.59.

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

Commerce Bancshares Increases Dividend

The business also recently disclosed 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares's dividend payout ratio (DPR) is 27.43%.

Insider Transactions at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the transaction, the chief executive officer now directly owns 211,929 shares in the company, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now owns 21,265 shares of the company's stock, valued at approximately $1,439,427.85. The trade was a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,016 shares of company stock worth $5,422,811 over the last ninety days. 3.20% of the stock is owned by insiders.

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.

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