Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Mariner LLC

Mariner LLC boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,490 shares of the financial services provider's stock after acquiring an additional 4,633 shares during the period. Mariner LLC owned about 0.08% of Commerce Bancshares worth $6,262,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at approximately $35,000. V Square Quantitative Management LLC lifted its position in 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 acquiring an additional 361 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 19.6% in 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 period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CBSH shares. Morgan Stanley raised shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their price objective for the company 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 on the stock in a research note on Thursday, April 17th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Piper Sandler lifted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $63.20.

Insider Activity

In other news, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the sale, the senior vice president now owns 18,688 shares in the company, valued at approximately $1,257,702.40. This trade represents a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,564 shares of company stock valued at $3,605,360 in the last three months. Corporate insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Down 0.6 %

Shares of CBSH traded down $0.36 during mid-day trading on Friday, reaching $61.01. 94,915 shares of the company's stock were exchanged, compared to its average volume of 587,103. Commerce Bancshares, Inc. has a 52-week low of $49.97 and a 52-week high of $72.75. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.13 and a beta of 0.71. The company has a 50-day simple moving average of $61.06 and a two-hundred day simple moving average of $64.16.

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 the consensus estimate of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a $0.275 dividend. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, March 7th. Commerce Bancshares's payout ratio is currently 26.63%.

About Commerce Bancshares

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.