Vanguard Group Inc. Buys 642,401 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Vanguard Group Inc. raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,225,491 shares of the financial services provider’s stock after buying an additional 642,401 shares during the period. Vanguard Group Inc. owned about 10.31% of Commerce Bancshares worth $824,080,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Atria Wealth Solutions Inc. grew 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 acquiring an additional 166 shares in the last quarter. Apriem Advisors lifted its stake in Commerce Bancshares by 5.0% during 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 holdings in shares of Commerce Bancshares by 4.9% in the 4th 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 in the last quarter. Verde Capital Management increased its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 183 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Commerce Bancshares by 4.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock valued at $249,000 after buying an additional 186 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 1.0 %

CBSH stock opened at $61.62 on Friday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.13 and a beta of 0.78. The firm’s 50-day moving average price is $64.30 and its two-hundred day moving average price is $64.43. Commerce Bancshares, Inc. has a 12-month low of $48.49 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the previous year, the business earned $0.84 EPS. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

Analyst Upgrades and Downgrades

CBSH has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their price target 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. Piper Sandler raised their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $68.17.

Insider Buying and Selling

In other news, 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 value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,434 shares of company stock valued at $5,248,272 over the last quarter. 3.20% of the stock is owned by company 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.