Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 56.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,669 shares of the financial services provider's stock after buying an additional 6,373 shares during the period. NewEdge Advisors LLC's holdings in Commerce Bancshares were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other news, SVP Patricia R. Kellerhals sold 1,719 shares of Commerce Bancshares stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the sale, the senior vice president now directly owns 18,688 shares in the company, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 211,929 shares in the company, valued at $14,258,583.12. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,842 shares of company stock worth $3,423,857. Corporate insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Performance

CBSH traded down $1.31 during trading on Wednesday, hitting $59.87. 28,400 shares of the stock were exchanged, compared to its average volume of 587,507. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 2.13 and a beta of 0.71. The firm has a 50 day simple moving average of $60.76 and a 200 day simple moving average of $64.25.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $417.85 million. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's payout ratio is currently 26.63%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CBSH shares. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. StockNews.com lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company decreased their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler boosted their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Company 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.