3,872 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,872 shares of the financial services provider’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Barclays PLC lifted its stake in Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after purchasing an additional 17,400 shares during the period. Virtu Financial LLC bought a new position in Commerce Bancshares during the third quarter worth about $566,000. Wilmington Savings Fund Society FSB bought a new position in Commerce Bancshares during the third quarter worth about $475,000. Tidal Investments LLC lifted its stake in Commerce Bancshares by 13.5% during the third quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider’s stock worth $2,319,000 after purchasing an additional 4,654 shares during the period. Finally, Franklin Resources Inc. bought a new position in Commerce Bancshares during the third quarter worth about $2,861,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. The trade was a 13.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David W. Kemper sold 3,708 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $66.16, for a total transaction of $245,321.28. Following the completion of the transaction, the chairman now directly owns 1,208,311 shares of the company’s stock, valued at $79,941,855.76. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,842 shares of company stock valued at $3,423,857 in the last quarter. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, April 17th. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler boosted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.20.

Commerce Bancshares Stock Performance

CBSH opened at $61.03 on Tuesday. The company has a fifty day moving average price of $60.84 and a two-hundred day moving average price of $64.27. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The firm has a market capitalization of $8.18 billion, a PE ratio of 15.22, a P/E/G ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

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.