Dimensional Fund Advisors LP Acquires 227,052 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Dimensional Fund Advisors LP grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,272,118 shares of the financial services provider's stock after acquiring an additional 227,052 shares during the quarter. Dimensional Fund Advisors LP owned 1.77% of Commerce Bancshares worth $141,584,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CBSH. Norges Bank bought a new stake in Commerce Bancshares in the fourth quarter worth $86,327,000. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 last quarter. Boston Trust Walden Corp raised its stake in shares of 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 last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Commerce Bancshares by 12.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider's stock worth $99,364,000 after purchasing an additional 182,423 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CBSH shares. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods decreased their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. StockNews.com cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. Finally, Piper Sandler boosted their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. One equities research 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, the stock presently has a consensus rating of "Hold" and an average price target of $63.20.

Commerce Bancshares Price Performance

Commerce Bancshares stock traded up $0.15 during mid-day trading on Tuesday, reaching $61.18. 430,222 shares of the stock traded hands, compared to its average volume of 589,001. The stock has a market capitalization of $8.20 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The business's 50-day moving average is $60.84 and its 200-day moving average is $64.27.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Insiders Place Their Bets

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the sale, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,842 shares of company stock worth $3,423,857 over the last quarter. 3.10% of the stock is currently owned by corporate 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.