Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,907 shares of the financial services provider’s stock after purchasing an additional 1,373 shares during the quarter. Fulton Bank N.A.’s holdings in Commerce Bancshares were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Stewardship LLC grew its stake in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after buying an additional 163 shares during the period. GAMMA Investing LLC lifted its holdings in Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 187 shares during the last quarter. Allworth Financial LP increased its stake in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC increased its stake in Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC lifted its stake in shares of Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after purchasing an additional 223 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.6 %

Commerce Bancshares stock opened at $62.77 on Friday. The firm has a market capitalization of $8.05 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.92 and a beta of 0.79. The stock’s fifty day simple moving average is $67.51 and its 200-day simple moving average is $63.00. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors 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 1.72%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.07.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,398 shares of company stock worth $2,504,665 in the last 90 days. Corporate insiders own 3.20% 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.