Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 1,199 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,059 shares of the financial services provider’s stock after buying an additional 1,199 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Commerce Bancshares were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 163,782 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after purchasing an additional 219,826 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Commerce Bancshares by 4.3% in the fourth 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 purchasing an additional 43,928 shares in the last quarter. Cooke & Bieler LP lifted its position in Commerce Bancshares by 0.8% during the fourth quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock worth $56,027,000 after purchasing an additional 7,280 shares during the period. Finally, NFJ Investment Group LLC grew its stake in Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after buying an additional 106,316 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the subject of a number of recent analyst reports. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company raised their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Morgan Stanley reduced their price objective 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, Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $68.17.

Insider Activity

In related news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction dated 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 owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,434 shares of company stock valued at $5,248,272. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Up 0.4 %

NASDAQ CBSH opened at $62.85 on Wednesday. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth 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. The business’s fifty day moving average is $64.43 and its 200 day moving average is $64.44.

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

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 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.