Natixis Invests $1.74 Million in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Natixis purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,840 shares of the financial services provider's stock, valued at approximately $1,735,000.

Other large investors have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC raised its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Beck Mack & Oliver LLC now owns 14,297 shares of the financial services provider's stock worth $891,000 after purchasing an additional 679 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Commerce Bancshares by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock valued at $141,584,000 after buying an additional 227,052 shares during the last quarter. First Trust Advisors LP raised its stake in Commerce Bancshares by 5.4% during the fourth quarter. First Trust Advisors LP now owns 1,011,260 shares of the financial services provider's stock worth $63,012,000 after acquiring an additional 52,147 shares during the period. Forum Financial Management LP bought a new position in Commerce Bancshares in the fourth quarter worth about $283,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Commerce Bancshares by 5.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 95,656 shares of the financial services provider's stock valued at $5,961,000 after acquiring an additional 4,553 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Up 2.3 %

Shares of NASDAQ:CBSH opened at $60.09 on Wednesday. The firm has a fifty day moving average of $61.25 and a two-hundred day moving average of $64.16. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The firm has a market capitalization of $8.06 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

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

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.275 dividend. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.83%. Commerce Bancshares's payout ratio is presently 26.63%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company lowered their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $58.00 in a report on Monday, April 7th. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Piper Sandler upped 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 research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.20.

Insider Buying and Selling

In related news, CFO Charles G. Kim sold 13,493 shares of the company's stock in a transaction on Friday, February 7th. The shares were 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 directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David L. Orf sold 1,036 shares of the 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 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. Over the last quarter, insiders have sold 78,434 shares of company stock worth $5,248,272. Insiders own 3.10% of the company's stock.

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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