Invesco Ltd. Acquires 154,751 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Invesco Ltd. boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 75.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,482 shares of the financial services provider’s stock after purchasing an additional 154,751 shares during the quarter. Invesco Ltd. owned about 0.28% of Commerce Bancshares worth $22,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after buying an additional 642,401 shares during the period. American Century Companies Inc. lifted its position in Commerce Bancshares by 25.5% during the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock worth $228,991,000 after acquiring an additional 745,661 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Commerce Bancshares by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider’s stock worth $155,756,000 after acquiring an additional 87,723 shares during the period. Wells Fargo & Company MN grew its position in shares of Commerce Bancshares by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider’s stock valued at $135,533,000 after purchasing an additional 38,210 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Commerce Bancshares by 12.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider’s stock worth $99,364,000 after purchasing an additional 182,423 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Down 0.2 %

Shares of Commerce Bancshares stock opened at $59.90 on Friday. The firm’s 50-day moving average price is $61.53 and its two-hundred day moving average price is $64.09. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

Insider Activity at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This represents a 13.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Kemper sold 26,042 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock valued at $5,248,272 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CBSH has been the topic of a number of research reports. StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Piper Sandler upped their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.20.

Commerce Bancshares Company 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.