Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,150 shares of the financial services provider’s stock after purchasing an additional 340 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Commerce Bancshares were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CBSH. Xponance Inc. grew its stake in shares of Commerce Bancshares by 10.7% during the 4th quarter. Xponance Inc. now owns 14,118 shares of the financial services provider’s stock worth $880,000 after purchasing an additional 1,369 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Commerce Bancshares by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 13,018 shares of the financial services provider’s stock worth $811,000 after buying an additional 667 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in Commerce Bancshares during the fourth quarter worth about $215,000. Corient Private Wealth LLC increased its holdings in Commerce Bancshares by 8.8% in the fourth quarter. Corient Private Wealth LLC now owns 13,794 shares of the financial services provider’s stock valued at $860,000 after buying an additional 1,120 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Commerce Bancshares by 10.7% during the 4th quarter. Natixis Advisors LLC now owns 18,918 shares of the financial services provider’s stock valued at $1,179,000 after acquiring an additional 1,828 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP David L. Orf sold 1,036 shares of the business’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,434 shares of company stock valued at $5,248,272 over the last quarter. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 0.4 %

Shares of CBSH stock opened at $62.85 on Wednesday. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 2.13 and a beta of 0.78. The firm has a 50-day moving average price of $64.43 and a 200 day moving average price of $64.44. 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, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, 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 was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.275 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.75%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.43%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered their price target on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler raised their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report 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. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.17.

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.