UMB Bank n.a. Boosts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

UMB Bank n.a. increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,234 shares of the financial services provider's stock after acquiring an additional 10,000 shares during the quarter. UMB Bank n.a. owned about 0.20% of Commerce Bancshares worth $16,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock worth $142,951,000 after acquiring an additional 163,782 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider's stock worth $115,453,000 after purchasing an additional 342,793 shares during the last quarter. NFJ Investment Group LLC boosted its stake in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider's stock worth $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Sei Investments Co. grew its position in Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider's stock valued at $34,846,000 after purchasing an additional 3,391 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Commerce Bancshares by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider's stock valued at $31,653,000 after purchasing an additional 13,772 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a "neutral" rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $66.75.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company's stock, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the sale, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,398 shares of company stock worth $2,504,665. Insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH traded up $1.07 during trading on Monday, hitting $64.85. The company had a trading volume of 661,248 shares, compared to its average volume of 425,898. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The firm has a market capitalization of $8.32 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 3.38 and a beta of 0.79. The stock has a 50 day simple moving average of $67.04 and a 200 day simple moving average of $63.53.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analysts' expectations of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.67%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio (DPR) is presently 28.13%.

About Commerce Bancshares

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.