Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Lifted by Eukles Asset Management

Eukles Asset Management lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,456 shares of the financial services provider’s stock after acquiring an additional 434 shares during the quarter. Eukles Asset Management’s holdings in Commerce Bancshares were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Thomas Story & Son LLC boosted its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Thomas Story & Son LLC now owns 6,968 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 331 shares during the period. Elser Financial Planning Inc lifted its stake in Commerce Bancshares by 5.1% during the fourth quarter. Elser Financial Planning Inc now owns 4,318 shares of the financial services provider’s stock valued at $269,000 after buying an additional 211 shares in the last quarter. 17 Capital Partners LLC boosted its holdings in shares of Commerce Bancshares by 5.0% in the fourth quarter. 17 Capital Partners LLC now owns 10,954 shares of the financial services provider’s stock worth $683,000 after buying an additional 519 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of Commerce Bancshares by 7.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 13,868 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Commerce Bancshares by 4.9% during the fourth quarter. Stephens Inc. AR now owns 11,433 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 538 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $67.65 on Monday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock’s 50-day moving average is $65.37 and its two-hundred day moving average is $64.19. The firm has a market cap of $8.67 billion, a P/E ratio of 16.87, a PEG ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The business 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%. Commerce Bancshares’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.63%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 45,511 shares of the company’s stock, valued at $3,006,456.66. The trade was a 35.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,339 shares of company stock worth $4,985,251 over the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

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