Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Raised by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,175,133 shares of the financial services provider’s stock after buying an additional 38,210 shares during the quarter. Wells Fargo & Company MN owned about 1.70% of Commerce Bancshares worth $135,533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at $33,000. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter worth about $35,000. V Square Quantitative Management LLC lifted its stake in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 268 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research reports. Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 1st. Morgan Stanley cut their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, March 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 report on Wednesday, January 29th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.17.

Commerce Bancshares Trading Down 3.9 %

Shares of Commerce Bancshares stock opened at $55.42 on Monday. The company has a market cap of $7.43 billion, a P/E ratio of 13.82, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 1 year low of $48.49 and a 1 year high of $72.75. The stock has a 50-day moving average price of $63.74 and a 200 day moving average price of $64.39.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 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 firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.98%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

Insider Buying and Selling at Commerce Bancshares

In related news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The shares were 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 owns 45,511 shares in the company, valued at $3,006,456.66. This trade represents a 35.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David W. Kemper sold 3,708 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $66.16, for a total value of $245,321.28. Following the transaction, the chairman now directly owns 1,208,311 shares of the company’s stock, valued at $79,941,855.76. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock worth $5,248,272 over the last 90 days. 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.