Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,908 shares of the financial services provider’s stock after purchasing an additional 183 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $244,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CBSH. Dimensional Fund Advisors LP increased its stake in shares of Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after buying an additional 342,793 shares during the period. Edgestream Partners L.P. acquired a new position in Commerce Bancshares during the 2nd quarter worth approximately $489,000. Mercer Global Advisors Inc. ADV increased its position in shares of Commerce Bancshares by 9.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 27,807 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 2,403 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Commerce Bancshares by 18.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,353 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth $207,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 1.7 %

CBSH opened at $64.85 on Friday. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.38 and a beta of 0.79. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The business’s 50 day moving average is $67.18 and its two-hundred day moving average is $63.36.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Equities analysts expect that Commerce Bancshares, Inc. will post 3.92 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.67%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CBSH shares. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.75.

Insider Activity

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,398 shares of company stock valued at $2,504,665. 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.