Teacher Retirement System of Texas Has $3.75 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Teacher Retirement System of Texas increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,180 shares of the financial services provider’s stock after purchasing an additional 10,064 shares during the period. Teacher Retirement System of Texas’ holdings in Commerce Bancshares were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 7.3% during 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 buying an additional 163,782 shares in the last quarter. Boston Trust Walden Corp raised its stake in 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 worth $91,524,000 after purchasing an additional 219,826 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Commerce Bancshares by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,055,430 shares of the financial services provider’s stock valued at $65,764,000 after purchasing an additional 43,928 shares during the period. Cooke & Bieler LP grew its position in shares of Commerce Bancshares by 0.8% during the 4th quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock worth $56,027,000 after purchasing an additional 7,280 shares in the last quarter. Finally, NFJ Investment Group LLC increased its holdings in shares of Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Up 2.3 %

Commerce Bancshares stock opened at $62.63 on Tuesday. The stock has a market cap of $8.40 billion, a PE ratio of 15.62, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12-month low of $48.49 and a 12-month high of $72.75. The business’s 50-day moving average price is $64.44 and its two-hundred day moving average price is $64.43.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 25.24% and a return on equity of 16.31%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared 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 represents a $1.10 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,719 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total transaction of $115,688.70. Following the sale, the senior vice president now directly owns 18,688 shares of the company’s stock, valued at $1,257,702.40. The trade was a 8.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their target price 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. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.17.

Commerce Bancshares 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.