EverSource Wealth Advisors LLC Has $497,000 Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

EverSource Wealth Advisors LLC grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,976 shares of the financial services provider’s stock after buying an additional 503 shares during the period. EverSource Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $497,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Commerce Bancshares by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock valued at $17,512,000 after acquiring an additional 9,362 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $566,000. Procyon Advisors LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at $200,000. PFW Advisors LLC bought a new position in Commerce Bancshares in the fourth quarter worth $1,336,000. Finally, Centiva Capital LP acquired a new stake in Commerce Bancshares during the third quarter worth $581,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $60.71 on Friday. The company has a market capitalization of $8.13 billion, a P/E ratio of 15.14, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a one year low of $47.89 and a one year high of $72.75. The business’s 50 day simple moving average is $64.49 and its 200-day simple moving average is $64.48.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping 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 firm earned $0.84 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 27.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler lifted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley decreased their price target on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $68.17.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,016 shares of company stock worth $5,422,811 in the last quarter. Insiders own 3.20% of the company’s stock.

Commerce Bancshares 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.