Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Fulton Bank N.A.

Fulton Bank N.A. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,907 shares of the financial services provider’s stock after purchasing an additional 1,373 shares during the quarter. Fulton Bank N.A.’s holdings in Commerce Bancshares were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CBSH. Los Angeles Capital Management LLC lifted its stake in Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after buying an additional 358,066 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares during the last quarter. American Century Companies Inc. grew its position in Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after purchasing an additional 240,938 shares during the last quarter. Millennium Management LLC increased its stake in Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after purchasing an additional 214,582 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after buying an additional 163,782 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares in the company, valued at $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares in the company, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,398 shares of company stock worth $2,504,665 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Up 0.6 %

Shares of CBSH opened at $62.77 on Friday. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The firm has a market capitalization of $8.05 billion, a P/E ratio of 16.35, a PEG ratio of 2.92 and a beta of 0.79. The firm’s 50-day moving average is $67.51 and its two-hundred day moving average is $63.00.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.72%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CBSH shares. Keefe, Bruyette & Woods boosted 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. StockNews.com downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $65.07.

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.