Vaughan David Investments LLC IL Boosts Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Vaughan David Investments LLC IL raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,815 shares of the financial services provider’s stock after acquiring an additional 987 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Commerce Bancshares were worth $1,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its stake in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $39,000. True Wealth Design LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $47,000. Finally, V Square Quantitative Management LLC lifted its position in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $64.24 on Wednesday. The company’s 50 day simple moving average is $64.67 and its 200-day simple moving average is $64.47. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.13 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, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities 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 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 a positive change 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 1.71%. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler upped their price objective 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 target price 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. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $67.83.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the sale, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. This represents a 35.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David W. Kemper sold 4,500 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total transaction of $311,490.00. Following the completion of the transaction, the chairman now owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. This trade represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,054 shares of company stock worth $5,771,192 in the last three months. 3.10% of the stock is owned by company 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.