North Reef Capital Management LP reduced its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,246 shares of the financial services provider's stock after selling 14,885 shares during the period. Commerce Bancshares makes up about 0.9% of North Reef Capital Management LP's holdings, making the stock its 23rd largest holding. North Reef Capital Management LP owned about 0.25% of Commerce Bancshares worth $19,955,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after buying an additional 642,401 shares during the last quarter. American Century Companies Inc. increased its stake in Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC raised its holdings in Commerce Bancshares by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock worth $155,756,000 after purchasing an additional 87,723 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 worth $141,584,000 after buying an additional 227,052 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Commerce Bancshares by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock valued at $135,533,000 after buying an additional 38,210 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.
Insider Buying and Selling
In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the stock in a transaction dated Wednesday, February 5th. The shares were 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 of the company's stock, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,842 shares of company stock valued at $3,423,857 over the last quarter. Company insiders own 3.10% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Wells Fargo & Company decreased their price objective 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. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Piper Sandler lifted their price objective 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 analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat, Commerce Bancshares has an average rating of "Hold" and an average target price of $63.20.
Check Out Our Latest Stock Report on Commerce Bancshares
Commerce Bancshares Stock Performance
CBSH traded up $0.15 during trading on Tuesday, hitting $61.18. The stock had a trading volume of 430,029 shares, compared to its average volume of 588,998. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The firm has a market capitalization of $8.20 billion, a P/E ratio of 15.26, a PEG ratio of 2.13 and a beta of 0.71. The company's 50-day moving average price is $60.84 and its 200 day moving average price is $64.27.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.
Commerce Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.80%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.
About Commerce Bancshares
(
Free Report)
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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