Great Lakes Advisors LLC Purchases 853 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Great Lakes Advisors LLC raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,344 shares of the financial services provider’s stock after purchasing an additional 853 shares during the quarter. Great Lakes Advisors LLC’s holdings in Commerce Bancshares were worth $1,704,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CBSH. EverSource Wealth Advisors LLC grew its stake in shares of Commerce Bancshares by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,976 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 503 shares during the period. HighTower Advisors LLC grew its stake in shares of Commerce Bancshares by 27.6% during the 4th quarter. HighTower Advisors LLC now owns 13,806 shares of the financial services provider’s stock valued at $860,000 after acquiring an additional 2,990 shares during the period. Warburton Capital Management LLC bought a new position in shares of Commerce Bancshares during the 4th quarter valued at approximately $303,000. Cooke & Bieler LP grew its stake in shares of Commerce Bancshares by 0.8% during the 4th quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock valued at $56,027,000 after acquiring an additional 7,280 shares during the period. Finally, Morton Community Bank grew its stake in shares of Commerce Bancshares by 5.0% during the 4th quarter. Morton Community Bank now owns 6,304 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 300 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price objective on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler boosted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.17.

Commerce Bancshares Price Performance

Shares of CBSH opened at $60.71 on Friday. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The business’s 50 day simple moving average is $64.49 and its 200-day simple moving average is $64.49.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data 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. The business had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. 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 dividend payout ratio is 27.43%.

Insider Activity at Commerce Bancshares

In related news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction 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 sale, the chief executive officer now owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the transaction, the senior vice president now directly owns 21,265 shares in the company, valued at $1,439,427.85. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,016 shares of company stock worth $5,422,811. Company 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.