Outlook Wealth Advisors LLC Increases Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Outlook Wealth Advisors LLC raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,201 shares of the financial services provider’s stock after buying an additional 898 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CBSH. Private Advisor Group LLC purchased a new stake in Commerce Bancshares in the second quarter valued at approximately $697,000. Dimensional Fund Advisors LP grew its stake in shares of Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Commerce Bancshares in the 2nd quarter valued at $489,000. Mercer Global Advisors Inc. ADV lifted its stake in Commerce Bancshares by 9.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 27,807 shares of the financial services provider’s stock worth $1,537,000 after acquiring an additional 2,403 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Commerce Bancshares by 18.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,353 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 1,588 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $64.31 on Thursday. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The stock has a market cap of $8.25 billion, a P/E ratio of 16.75, a P/E/G ratio of 3.38 and a beta of 0.79. The stock has a 50-day simple moving average of $67.47 and a 200-day simple moving average of $63.28.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $66.75.

Insider Activity

In related news, Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares in the company, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.10% of the company’s stock.

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.