State of Alaska Department of Revenue Has $870,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

State of Alaska Department of Revenue boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,969 shares of the financial services provider’s stock after buying an additional 222 shares during the quarter. State of Alaska Department of Revenue’s holdings in Commerce Bancshares were worth $870,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CBSH. Wedge Capital Management L L P NC boosted its stake in Commerce Bancshares by 2.1% in the third quarter. Wedge Capital Management L L P NC now owns 31,425 shares of the financial services provider’s stock valued at $1,867,000 after buying an additional 659 shares in the last quarter. nVerses Capital LLC bought a new position in Commerce Bancshares in the third quarter valued at about $255,000. Marshall Financial Group LLC raised its position in Commerce Bancshares by 1.2% in the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after purchasing an additional 223 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Commerce Bancshares in the third quarter valued at about $26,000. Finally, Stratos Wealth Advisors LLC bought a new position in Commerce Bancshares in the third quarter valued at about $219,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.4 %

Commerce Bancshares stock opened at $66.44 on Friday. Commerce Bancshares, Inc. has a 52 week low of $47.79 and a 52 week high of $72.75. The business has a 50-day simple moving average of $65.11 and a 200 day simple moving average of $64.25. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Piper Sandler raised 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. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.83.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares in the company, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares in the company, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,944 shares of company stock worth $5,835,512. 3.20% of the stock is currently owned by corporate insiders.

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.