Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Lifted by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 25.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,729 shares of the financial services provider’s stock after acquiring an additional 1,748 shares during the quarter. Ieq Capital LLC’s holdings in Commerce Bancshares were worth $544,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Commerce Bancshares by 12,340.0% in the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,234 shares during the last quarter. Raymond James & Associates boosted its holdings in Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after purchasing an additional 7,512 shares during the period. Allworth Financial LP raised its stake in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Commerce Bancshares by 81.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock valued at $842,000 after buying an additional 6,349 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Commerce Bancshares by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,747 shares of the financial services provider’s stock valued at $816,000 after buying an additional 920 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP David L. Orf sold 1,036 shares of the business’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 of the company’s stock, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David W. Kemper sold 4,500 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the completion of the sale, the chairman now directly owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock valued at $5,771,192 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Up 0.1 %

NASDAQ CBSH opened at $64.28 on Thursday. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The company has a market capitalization of $8.24 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The firm’s 50 day moving average is $64.68 and its 200-day moving average is $64.47.

Commerce Bancshares (NASDAQ:CBSH) last issued its 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 for 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s payout ratio is 27.43%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CBSH shares. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. 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 research note on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler lifted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.83.

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.