Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,417 shares of the financial services provider’s stock after acquiring an additional 257 shares during the quarter. Panagora Asset Management Inc.’s holdings in Commerce Bancshares were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Commerce Bancshares by 16.5% during the third quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 18,535 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of Commerce Bancshares by 3.9% during the third quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider’s stock worth $20,011,000 after buying an additional 15,508 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Commerce Bancshares by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 436,081 shares of the financial services provider’s stock worth $23,291,000 after buying an additional 17,417 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $526,000. Finally, Eukles Asset Management lifted its stake in shares of 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 buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.1 %

CBSH stock opened at $55.06 on Friday. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $57.48. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. The business has a fifty day moving average of $54.12 and a two-hundred day moving average of $52.71.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business 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%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.53 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is presently 30.12%.

Insider Activity

In related news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares 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 in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO John W. Kemper sold 26,581 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the transaction, the chief executive officer now owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction dated 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 transaction, the executive vice president now directly 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 own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CBSH shares. Piper Sandler increased their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research report on Wednesday, April 17th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley raised their target price on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.29.

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.