Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Sei Investments Co.

Sei Investments Co. increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 20.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 877,808 shares of the financial services provider's stock after buying an additional 151,682 shares during the quarter. Sei Investments Co. owned about 0.68% of Commerce Bancshares worth $54,696,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Commerce Bancshares by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider's stock valued at $17,512,000 after acquiring an additional 9,362 shares during the period. Virtu Financial LLC purchased a new position in Commerce Bancshares during the 3rd quarter worth $566,000. Procyon Advisors LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at $200,000. PFW Advisors LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $1,336,000. Finally, Centiva Capital LP acquired a new stake in shares of Commerce Bancshares during the third quarter worth about $581,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock traded down $0.42 during midday trading on Thursday, reaching $62.27. The company's stock had a trading volume of 409,966 shares, compared to its average volume of 557,614. Commerce Bancshares, Inc. has a fifty-two week low of $48.49 and a fifty-two week high of $72.75. The firm has a market capitalization of $8.35 billion, a PE ratio of 15.53, a P/E/G ratio of 2.13 and a beta of 0.78. The stock's 50 day simple moving average is $64.40 and its 200 day simple moving average is $64.43.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. Equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current 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 issued a $0.275 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's dividend payout ratio is currently 27.43%.

Insider Activity at Commerce Bancshares

In related news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction 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. The trade was a 10.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David L. Orf sold 1,036 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,434 shares of company stock valued at $5,248,272 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Raymond James cut Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating on the stock in a research report on Thursday, March 13th. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and an average target price of $68.17.

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.