Rhumbline Advisers Purchases 16,513 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Rhumbline Advisers lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,339 shares of the financial services provider's stock after purchasing an additional 16,513 shares during the quarter. Rhumbline Advisers owned 0.28% of Commerce Bancshares worth $22,266,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Sound Stewardship LLC grew its position in Commerce Bancshares by 3.9% in the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 163 shares during the period. Fifth Third Wealth Advisors LLC grew its position in Commerce Bancshares by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after acquiring an additional 183 shares during the period. Verde Capital Management grew its position in Commerce Bancshares by 5.4% in the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 183 shares during the period. GAMMA Investing LLC grew its holdings in shares of Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock worth $71,000 after purchasing an additional 187 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Commerce Bancshares by 5.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider's stock worth $232,000 after purchasing an additional 187 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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Commerce Bancshares Trading Up 0.2 %

Commerce Bancshares stock traded up $0.10 during mid-day trading on Monday, hitting $64.09. The stock had a trading volume of 602,709 shares, compared to its average volume of 519,203. The stock has a 50-day simple moving average of $64.72 and a two-hundred day simple moving average of $64.45. The stock has a market capitalization of $8.22 billion, a PE ratio of 15.98, a P/E/G ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.72%. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's payout ratio is currently 26.93%.

Analysts Set New Price Targets

Several analysts have recently commented on CBSH shares. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Monday, January 13th. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Raymond James cut Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares currently has an average rating of "Hold" and a consensus target price of $67.83.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the transaction, the chairman now owns 23,725 shares in the company, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,054 shares of company stock valued at $5,771,192. Corporate insiders own 3.20% of the company's stock.

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.