Sei Investments Co. Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sei Investments Co. raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 20.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 877,808 shares of the financial services provider’s stock after acquiring an additional 151,682 shares during the period. Sei Investments Co.’s holdings in Commerce Bancshares were worth $54,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CBSH. Marshall Investment Management LLC bought a new stake in Commerce Bancshares in the 4th quarter valued at $35,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $47,000. V Square Quantitative Management LLC grew its position in shares of Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Commerce Bancshares by 35.3% in the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after buying an additional 439 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CBSH. Wells Fargo & Company lifted their price objective on 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 shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.17.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 45,511 shares of the company’s stock, valued at $3,006,456.66. The trade was a 35.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the transaction, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock valued at $5,248,272 in the last quarter. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Down 0.3 %

Shares of CBSH opened at $61.24 on Monday. The company’s fifty day simple moving average is $64.42 and its 200-day simple moving average is $64.43. The company has a market cap of $8.21 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a twelve month low of $48.49 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal 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 issued a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is presently 27.43%.

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.