Simmons Bank Grows Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Simmons Bank boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,131 shares of the financial services provider’s stock after buying an additional 714 shares during the quarter. Simmons Bank’s holdings in Commerce Bancshares were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in shares of 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 worth $21,556,000 after acquiring an additional 358,066 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after acquiring an additional 219,826 shares during the period. Geode Capital Management LLC boosted 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 worth $142,951,000 after acquiring an additional 163,782 shares during the period. NFJ Investment Group LLC boosted its holdings in shares of Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after acquiring an additional 106,316 shares during the period. Finally, Zacks Investment Management bought a new position in shares of Commerce Bancshares in the third quarter worth $6,087,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commerce Bancshares

In other news, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares 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 completion of the transaction, the chairman now owns 23,725 shares in the company, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,054 shares of company stock worth $5,771,192. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CBSH shares. Piper Sandler lifted 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. Wells Fargo & Company lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.83.

Commerce Bancshares Stock Up 0.1 %

Shares of CBSH stock opened at $64.28 on Thursday. The business has a 50-day moving average price of $64.68 and a two-hundred day moving average price of $64.47. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The firm has a market cap of $8.24 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80.

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

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.71%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is currently 27.43%.

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.