Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Boxwood Ventures Inc.

Boxwood Ventures Inc. increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,775 shares of the financial services provider’s stock after purchasing an additional 1,132 shares during the period. Commerce Bancshares accounts for 2.0% of Boxwood Ventures Inc.’s investment portfolio, making the stock its 17th biggest position. Boxwood Ventures Inc.’s holdings in Commerce Bancshares were worth $1,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its holdings in shares of Commerce Bancshares by 9.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,557 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 642 shares during the last quarter. FMR LLC grew its position in Commerce Bancshares by 15.4% during the third quarter. FMR LLC now owns 110,423 shares of the financial services provider’s stock valued at $6,559,000 after acquiring an additional 14,775 shares during the period. Quantbot Technologies LP acquired a new stake in Commerce Bancshares during the third quarter worth about $235,000. BNP Paribas Financial Markets raised its holdings in shares of Commerce Bancshares by 738.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,727 shares of the financial services provider’s stock worth $3,073,000 after purchasing an additional 45,559 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of Commerce Bancshares by 5.0% in the 3rd quarter. Townsquare Capital LLC now owns 11,358 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 543 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Down 1.0 %

Shares of NASDAQ CBSH opened at $61.62 on Monday. Commerce Bancshares, Inc. has a fifty-two week low of $48.49 and a fifty-two week high of $72.75. The business has a 50 day moving average price of $64.30 and a two-hundred day moving average price of $64.46. The firm has a market cap of $8.26 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

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 analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is 27.43%.

Insider Transactions at Commerce Bancshares

In other news, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.06, for a total value of $1,642,912.20. Following the completion of the transaction, the executive vice president now owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John K. Handy sold 2,722 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $66.68, for a total value of $181,502.96. Following the sale, the executive vice president now directly owns 39,638 shares in the company, valued at approximately $2,643,061.84. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,434 shares of company stock valued at $5,248,272. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the topic of several research reports. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Morgan Stanley reduced their target price on shares of 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 increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company boosted 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. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price 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.