Gallacher Capital Management LLC Makes New Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Gallacher Capital Management LLC bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,446 shares of the financial services provider’s stock, valued at approximately $215,000.

Other large investors have also made changes to their positions in the company. Corient Private Wealth LLC boosted its holdings in Commerce Bancshares by 8.8% during the fourth quarter. Corient Private Wealth LLC now owns 13,794 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 1,120 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Commerce Bancshares by 10.7% in the 4th quarter. Natixis Advisors LLC now owns 18,918 shares of the financial services provider’s stock valued at $1,179,000 after buying an additional 1,828 shares during the period. Frank Rimerman Advisors LLC raised its holdings in Commerce Bancshares by 4.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 186 shares during the last quarter. Hilton Capital Management LLC grew its holdings in Commerce Bancshares by 10.1% during the 4th quarter. Hilton Capital Management LLC now owns 32,852 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,005 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in Commerce Bancshares by 11.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 32,909 shares of the financial services provider’s stock valued at $2,051,000 after purchasing an additional 3,387 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler raised 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. 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 research note on Wednesday, December 4th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley reduced their price target on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.17.

Insiders Place Their Bets

In related news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the transaction, the chief executive officer now owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,016 shares of company stock worth $5,355,121. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $60.71 on Monday. The company’s fifty day simple moving average is $64.49 and its two-hundred day simple moving average is $64.49. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results 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. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.81%. Commerce Bancshares’s payout ratio is presently 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.