Kovack Advisors Inc. Buys New Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Kovack Advisors Inc. bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,406 shares of the financial services provider's stock, valued at approximately $399,000.

A number of other institutional investors have also recently modified their holdings of CBSH. Los Angeles Capital Management LLC increased its stake in shares of Commerce Bancshares by 7,407.2% during the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider's stock worth $21,556,000 after purchasing an additional 358,066 shares in the last quarter. Boston Trust Walden Corp increased its stake in Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider's stock worth $91,524,000 after buying an additional 219,826 shares in the last quarter. Geode Capital Management LLC increased its stake in Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock worth $142,951,000 after buying an additional 163,782 shares in the last quarter. NFJ Investment Group LLC lifted its position in shares of Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider's stock valued at $42,006,000 after acquiring an additional 106,316 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Commerce Bancshares in the third quarter worth approximately $6,087,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,016 shares of company stock worth $5,768,576. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Commerce Bancshares Trading Down 1.9 %

CBSH stock traded down $1.20 during trading on Tuesday, reaching $63.62. 372,625 shares of the stock were exchanged, compared to its average volume of 519,871. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 2.13 and a beta of 0.80. The business has a 50 day moving average price of $64.78 and a 200-day moving average price of $64.59. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is 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 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.