Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,501 shares of the financial services provider's stock after purchasing an additional 17,301 shares during the period. Edgestream Partners L.P. owned about 0.09% of Commerce Bancshares worth $6,885,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CBSH. Marshall Investment Management LLC bought a new position in Commerce Bancshares in the 4th quarter worth about $35,000. Capital Performance Advisors LLP bought a new position in Commerce Bancshares in the 3rd quarter worth about $39,000. True Wealth Design LLC bought a new position in Commerce Bancshares in the 3rd quarter worth about $47,000. V Square Quantitative Management LLC grew its stake in 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 acquiring an additional 361 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock worth $52,000 after acquiring an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CBSH shares. Raymond James downgraded shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price 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. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Piper Sandler upped their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.83.

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Insiders Place Their Bets

In other news, SVP Patricia R. Kellerhals sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total value of $67,690.00. Following the sale, the senior vice president now owns 21,265 shares in the company, valued at $1,439,427.85. This represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction 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 sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,516 shares of company stock valued at $5,457,086. Insiders own 3.20% of the company's stock.

Commerce Bancshares Trading Up 0.4 %

Shares of CBSH traded up $0.26 during mid-day trading on Friday, hitting $62.22. The company's stock had a trading volume of 678,637 shares, compared to its average volume of 532,012. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The company's 50-day moving average is $64.72 and its 200-day moving average is $64.58. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.13 and a beta of 0.78.

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

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. Commerce Bancshares's dividend payout ratio is presently 27.43%.

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.