Amundi Buys New Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amundi acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 60,640 shares of the financial services provider’s stock, valued at approximately $3,806,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Atria Wealth Solutions Inc. boosted its position in Commerce Bancshares by 1.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after purchasing an additional 166 shares during the last quarter. Apriem Advisors boosted its position in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 182 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Commerce Bancshares by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 183 shares during the last quarter. Verde Capital Management boosted its position in Commerce Bancshares by 5.4% in the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,719 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the sale, the senior vice president now owns 18,688 shares of the company’s stock, valued at $1,257,702.40. This trade represents a 8.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David L. Orf sold 1,036 shares of the firm’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 directly owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,016 shares of company stock valued at $5,355,121 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CBSH shares. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Morgan Stanley dropped their price target on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday. Wells Fargo & Company upped their price target 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 cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price target 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $68.17.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $60.71 on Monday. The stock’s 50-day simple moving average is $64.49 and its 200 day simple moving average is $64.49. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued 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. The business had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.43%.

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.