Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,796 shares of the financial services provider’s stock after acquiring an additional 655 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $860,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CBSH. Sound Stewardship LLC increased its stake in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after purchasing an additional 166 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 183 shares during the period. Verde Capital Management boosted its position in Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 183 shares during the period. Finally, GAMMA Investing LLC boosted 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 period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Down 1.4 %

Shares of Commerce Bancshares stock opened at $64.00 on Monday. The firm has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $64.42. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a 1-year low of $47.89 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a dividend of $0.275 per share. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.72%. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Insider Buying and Selling at Commerce Bancshares

In other news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock valued at $5,771,192 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.