Syntegra Private Wealth Group LLC Grows Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Syntegra Private Wealth Group LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,214 shares of the financial services provider’s stock after buying an additional 485 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Commerce Bancshares were worth $636,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CBSH. Los Angeles Capital Management LLC lifted its stake in shares of Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after acquiring an additional 358,066 shares during the period. Boston Trust Walden Corp lifted its position in Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares during the period. Geode Capital Management LLC lifted its position 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 valued at $142,951,000 after purchasing an additional 163,782 shares during the period. NFJ Investment Group LLC boosted its holdings 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 valued at $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in Commerce Bancshares during the 3rd quarter worth approximately $6,087,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 1.3 %

NASDAQ:CBSH opened at $68.36 on Thursday. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The stock has a fifty day simple moving average of $65.60 and a 200-day simple moving average of $64.13. The company has a market capitalization of $8.77 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current 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 paid a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,303 shares of company stock worth $4,914,555. 3.10% of the stock is 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.