MetLife Investment Management LLC Buys 8,415 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

MetLife Investment Management LLC boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,079 shares of the financial services provider's stock after buying an additional 8,415 shares during the period. MetLife Investment Management LLC owned 0.05% of Commerce Bancshares worth $4,304,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. lifted its stake in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 166 shares during the period. Canopy Partners LLC lifted its position in Commerce Bancshares by 4.9% during the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock valued at $225,000 after buying an additional 168 shares during the period. Apriem Advisors boosted its holdings in shares of Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock valued at $238,000 after buying an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock worth $244,000 after buying an additional 183 shares during the period. Finally, Verde Capital Management increased its stake in shares of Commerce Bancshares by 5.4% in the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock worth $223,000 after acquiring an additional 183 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $61.37 on Friday. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75. The company has a market cap of $8.23 billion, a P/E ratio of 15.30, a PEG ratio of 2.13 and a beta of 0.71. The stock's fifty day moving average price is $61.06 and its 200-day moving average price is $64.16.

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

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.79%. Commerce Bancshares's payout ratio is currently 26.63%.

Insider Activity

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the 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 transaction, the chief financial officer now owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Orf sold 1,036 shares of the firm'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 transaction, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. 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 ninety days. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CBSH. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods cut 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. Piper Sandler boosted their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.20.

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.

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