Corient Private Wealth LLC Has $860,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Corient Private Wealth LLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,794 shares of the financial services provider’s stock after acquiring an additional 1,120 shares during the period. Corient Private Wealth LLC’s holdings in Commerce Bancshares were worth $860,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Marshall Investment Management LLC bought a new position in Commerce Bancshares during the 4th quarter worth approximately $35,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the third quarter worth $47,000. V Square Quantitative Management LLC boosted its position in shares of Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Commerce Bancshares by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after buying an additional 187 shares during the period. Finally, Blue Trust Inc. raised its stake in Commerce Bancshares by 35.3% during the 4th quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after buying an additional 439 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the transaction, the senior vice president now owns 18,688 shares in the company, valued at $1,257,702.40. This represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock worth $5,248,272 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Piper Sandler increased 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. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.17.

Commerce Bancshares Trading Down 0.7 %

Shares of CBSH opened at $62.27 on Friday. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12 month low of $48.49 and a 12 month high of $72.75. The firm has a fifty day simple moving average of $64.37 and a 200 day simple moving average of $64.41.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 company had revenue of $422.10 million during 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 company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.77%. Commerce Bancshares’s payout ratio is 27.43%.

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.