Cetera Trust Company N.A Acquires New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cetera Trust Company N.A acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,150 shares of the financial services provider’s stock, valued at approximately $168,000.

Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Commerce Bancshares by 16.5% in the third quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider’s stock worth $6,282,000 after acquiring an additional 18,535 shares in the last quarter. Mutual Advisors LLC boosted its holdings in Commerce Bancshares by 3.9% in the third quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider’s stock worth $20,011,000 after acquiring an additional 15,508 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in Commerce Bancshares in the fourth quarter worth about $526,000. Stifel Financial Corp boosted its holdings in Commerce Bancshares by 23.0% in the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock worth $5,322,000 after acquiring an additional 20,737 shares in the last quarter. Finally, Eukles Asset Management boosted its holdings in Commerce Bancshares by 4.0% in the fourth quarter. Eukles Asset Management now owns 8,986 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 1.4 %

Shares of CBSH stock opened at $53.85 on Monday. The stock has a 50 day moving average of $52.07 and a 200 day moving average of $51.05. The stock has a market cap of $6.99 billion, a P/E ratio of 15.00 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. Commerce Bancshares’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research note on Wednesday, April 17th. Bank of America assumed coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price objective for the company. Piper Sandler raised their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $55.00.

Insider Activity

In other news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares in the company, valued at $2,648,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Douglas D. Neff sold 614 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $403,909.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The disclosure for this sale can be found here. Insiders sold 13,899 shares of company stock worth $729,206 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.