Xponance Inc. Increases Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Xponance Inc. boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,529 shares of the financial services provider’s stock after acquiring an additional 926 shares during the quarter. Xponance Inc.’s holdings in Commerce Bancshares were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CBSH. Walleye Capital LLC boosted its stake in shares of Commerce Bancshares by 147.7% in the 3rd quarter. Walleye Capital LLC now owns 296,634 shares of the financial services provider’s stock valued at $14,232,000 after buying an additional 176,897 shares during the period. Schroder Investment Management Group boosted its stake in shares of Commerce Bancshares by 12.4% in the 3rd quarter. Schroder Investment Management Group now owns 618,515 shares of the financial services provider’s stock valued at $29,676,000 after buying an additional 68,256 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares by 6.7% in the 4th quarter. Boston Trust Walden Corp now owns 1,094,108 shares of the financial services provider’s stock valued at $58,436,000 after buying an additional 68,245 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Commerce Bancshares by 382.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,192 shares of the financial services provider’s stock valued at $2,552,000 after buying an additional 42,167 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Commerce Bancshares by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 883,380 shares of the financial services provider’s stock worth $42,385,000 after purchasing an additional 36,554 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Benjamin F. Rassieur III sold 1,785 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now owns 33,567 shares of the company’s stock, valued at $1,806,911.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,661 shares of company stock valued at $606,528. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Bank of America began coverage on Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price for the company. Piper Sandler boosted their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.

Commerce Bancshares Stock Down 0.9 %

CBSH opened at $55.44 on Friday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 15.46 and a beta of 0.79. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $56.75. The business’s 50 day moving average is $52.41 and its two-hundred day moving average is $51.21.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s payout ratio is currently 30.12%.

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.