Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Raised by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,717 shares of the financial services provider’s stock after buying an additional 1,793 shares during the quarter. Sanctuary Advisors LLC’s holdings in Commerce Bancshares were worth $2,987,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CBSH. Allworth Financial LP grew its stake in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares in the third quarter worth about $39,000. True Wealth Design LLC bought a new position in Commerce Bancshares in the 3rd quarter valued at about $47,000. V Square Quantitative Management LLC increased its stake in 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 valued at $49,000 after buying an additional 361 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after buying an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CBSH shares. 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 target on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Piper Sandler lifted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.83.

Insider Buying and Selling

In other news, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the transaction, the chairman now owns 23,725 shares in the company, valued at $1,642,244.50. This represents a 15.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Orf sold 1,036 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,054 shares of company stock valued at $5,771,192. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Down 1.4 %

CBSH opened at $64.00 on Friday. The business has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $64.39. The firm has a market cap of $8.21 billion, a PE ratio of 15.96, a P/E/G ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 firm had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter last year, the business posted $0.84 EPS. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS 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. Investors of record on Friday, March 7th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is 26.93%.

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.