Morton Community Bank Has $393,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Morton Community Bank grew its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,304 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Morton Community Bank’s holdings in Commerce Bancshares were worth $393,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after buying an additional 163,782 shares during the period. Boston Trust Walden Corp lifted its position in Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after acquiring an additional 219,826 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Commerce Bancshares by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,055,430 shares of the financial services provider’s stock valued at $65,764,000 after acquiring an additional 43,928 shares in the last quarter. NFJ Investment Group LLC lifted its position in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after acquiring an additional 106,316 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in Commerce Bancshares by 4.8% in the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock valued at $30,244,000 after acquiring an additional 21,922 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CBSH shares. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler lifted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $67.83.

Commerce Bancshares Trading Up 0.4 %

NASDAQ:CBSH opened at $62.22 on Monday. The stock has a market capitalization of $8.33 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. The firm’s 50 day moving average is $64.72 and its 200 day moving average is $64.60. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s payout ratio is currently 27.43%.

Insider Activity at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the completion of the transaction, the senior vice president now owns 21,265 shares of the company’s stock, valued at $1,439,427.85. This represents a 4.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,016 shares of company stock worth $5,422,811. 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.