Kesler Norman & Wride LLC Buys 1,246 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Kesler Norman & Wride LLC boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,463 shares of the financial services provider’s stock after buying an additional 1,246 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Commerce Bancshares were worth $2,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK boosted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 210 shares during the period. Signaturefd LLC boosted its position in shares of Commerce Bancshares by 14.4% in the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares during the period. Angeles Investment Advisors LLC boosted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 217 shares during the period. Missouri Trust & Investment Co boosted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Missouri Trust & Investment Co now owns 5,138 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 244 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Commerce Bancshares by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after acquiring an additional 250 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Piper Sandler raised their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.71.

Commerce Bancshares Stock Down 0.7 %

Shares of CBSH stock traded down $0.40 during mid-day trading on Thursday, reaching $55.47. 308,568 shares of the company’s stock traded hands, compared to its average volume of 412,714. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $57.48. The company has a market cap of $7.19 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.82 and a beta of 0.76. The company’s 50-day moving average price is $55.11 and its 200-day moving average price is $53.52.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. Commerce Bancshares’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts predict that Commerce Bancshares, Inc. will post 3.57 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.77, for a total value of $1,509,003.37. Following the completion of the transaction, the chief executive officer now owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by 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.