Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Increased by Xponance Inc.

Xponance Inc. raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 10.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,118 shares of the financial services provider’s stock after acquiring an additional 1,369 shares during the period. Xponance Inc.’s holdings in Commerce Bancshares were worth $880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atria Wealth Solutions Inc. raised its position in shares of Commerce Bancshares by 1.5% during 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 period. Apriem Advisors increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after buying an additional 183 shares during the period. Verde Capital Management lifted its stake in Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after buying an additional 183 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock worth $249,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,434 shares of company stock worth $5,248,272. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $62.63 on Tuesday. Commerce Bancshares, Inc. has a fifty-two week low of $48.49 and a fifty-two week high of $72.75. The stock’s 50-day moving average is $64.44 and its two-hundred day moving average is $64.43. The firm has a market cap of $8.40 billion, a P/E ratio of 15.62, a PEG ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is presently 27.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CBSH shares. Piper Sandler boosted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.17.

About Commerce Bancshares

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.