Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Boosted by First Bank & Trust

First Bank & Trust boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,909 shares of the financial services provider’s stock after purchasing an additional 281 shares during the quarter. First Bank & Trust’s holdings in Commerce Bancshares were worth $368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Commerce Bancshares by 12,340.0% during the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,234 shares during the last quarter. Raymond James & Associates increased its position in Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after acquiring an additional 7,512 shares during the period. CENTRAL TRUST Co raised its stake in Commerce Bancshares by 3.4% during the 3rd quarter. CENTRAL TRUST Co now owns 34,767 shares of the financial services provider’s stock valued at $2,065,000 after acquiring an additional 1,139 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in Commerce Bancshares during the 3rd quarter worth $731,000. Finally, Allworth Financial LP boosted its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of CBSH opened at $64.90 on Friday. The firm’s 50 day moving average is $64.86 and its 200-day moving average is $64.33. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The stock has a market capitalization of $8.32 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.17 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $417.48 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.93 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s payout ratio is presently 26.93%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CBSH shares. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.83.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. The trade was a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.06, for a total value of $1,642,912.20. Following the completion of the transaction, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock worth $5,771,192 in the last three months. 3.20% of the stock is currently owned by insiders.

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.