PFW Advisors LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,447 shares of the financial services provider's stock, valued at approximately $1,336,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Sound Stewardship LLC increased its holdings in shares of Commerce Bancshares by 3.9% in the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock worth $258,000 after acquiring an additional 163 shares in the last quarter. GAMMA Investing LLC raised its holdings in Commerce Bancshares by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock worth $71,000 after buying an additional 187 shares during the period. Allworth Financial LP increased its position in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after acquiring an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in Commerce Bancshares by 3.6% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider's stock worth $374,000 after purchasing an additional 217 shares in the last quarter. Finally, Marshall Financial Group LLC raised its stake in shares of Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider's stock valued at $1,084,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Tuesday, December 31st. Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Morgan Stanley downgraded shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $66.75.
Get Our Latest Stock Report on CBSH
Commerce Bancshares Trading Up 1.0 %
Shares of Commerce Bancshares stock traded up $0.59 during trading on Monday, hitting $61.74. 589,719 shares of the stock were exchanged, compared to its average volume of 497,288. The company has a fifty day moving average price of $67.48 and a 200-day moving average price of $63.17. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.92 and a beta of 0.79. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Equities research analysts forecast that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.
Commerce Bancshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares's payout ratio is presently 28.13%.
Insider Transactions at Commerce Bancshares
In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the sale, the senior vice president now owns 22,265 shares of the company's stock, valued at $1,526,265.75. The trade was a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin G. Barth sold 1,582 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,398 shares of company stock worth $2,504,665. 3.20% of the stock is owned by insiders.
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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