Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,427 shares of the financial services provider’s stock after acquiring an additional 3,919 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commerce Bancshares were worth $1,896,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CBSH. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter worth about $35,000. True Wealth Design LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth about $47,000. V Square Quantitative Management LLC raised its position in shares of Commerce Bancshares by 84.0% during the 4th 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 during the last quarter. GAMMA Investing LLC raised its position in shares of Commerce Bancshares by 19.6% during the 4th 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. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $61.83 on Tuesday. The firm has a 50 day simple moving average of $64.47 and a 200-day simple moving average of $64.48. Commerce Bancshares, Inc. has a 1-year low of $47.89 and a 1-year high of $72.75. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

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

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.78%. Commerce Bancshares’s dividend payout ratio is 27.43%.

Analysts Set New Price Targets

Several research firms recently weighed in on CBSH. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price objective 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. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, Piper Sandler increased their price objective 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. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.17.

Insider Activity

In related news, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the transaction, the senior vice president now owns 18,688 shares of the company’s stock, valued at approximately $1,257,702.40. This trade represents a 8.42 % decrease in their position. The transaction 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 stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,434 shares of company stock valued at $5,248,272 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.