Amalgamated Bank Acquires 2,681 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amalgamated Bank raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,732 shares of the financial services provider’s stock after purchasing an additional 2,681 shares during the quarter. Amalgamated Bank’s holdings in Commerce Bancshares were worth $3,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CBSH. Los Angeles Capital Management LLC boosted 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 in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. NFJ Investment Group LLC grew its holdings in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in Commerce Bancshares during the 3rd quarter worth approximately $6,087,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock 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 report on Thursday, December 19th. Piper Sandler upped 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. Wells Fargo & Company lifted 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. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $67.83.

Insider Transactions at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction dated 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 $1,526,265.75. This represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the sale, the chief executive officer now directly owns 211,929 shares of the company’s stock, valued at $14,258,583.12. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock worth $5,771,192 over the last three months. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Trading Up 1.5 %

NASDAQ CBSH opened at $65.03 on Friday. The firm has a market capitalization of $8.34 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The business’s 50-day moving average price is $64.74 and its two-hundred day moving average price is $64.50. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for 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 firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend 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.