Swiss National Bank Buys 12,016 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Swiss National Bank grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 252,339 shares of the financial services provider’s stock after purchasing an additional 12,016 shares during the period. Swiss National Bank’s holdings in Commerce Bancshares were worth $15,723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Commerce Bancshares by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock valued at $17,512,000 after purchasing an additional 9,362 shares in the last quarter. Virtu Financial LLC purchased a new position in Commerce Bancshares during the third quarter valued at $566,000. Procyon Advisors LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $200,000. PFW Advisors LLC purchased a new stake in shares of Commerce Bancshares in the 4th quarter worth about $1,336,000. Finally, Centiva Capital LP bought a new position in shares of Commerce Bancshares in the 3rd quarter worth about $581,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, EVP John K. Handy sold 2,722 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $66.68, for a total transaction of $181,502.96. Following the completion of the sale, the executive vice president now directly owns 39,638 shares in the company, valued at approximately $2,643,061.84. The trade was a 6.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Up 0.8 %

Commerce Bancshares stock opened at $62.34 on Thursday. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12 month low of $47.96 and a 12 month high of $72.75. The stock has a fifty day simple moving average of $64.45 and a two-hundred day simple moving average of $64.45.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.76%. Commerce Bancshares’s dividend payout ratio is 27.43%.

Analysts Set New Price Targets

Several research firms recently commented on CBSH. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Piper Sandler upped their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley cut their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $68.17.

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.