Oak Thistle LLC Purchases Shares of 5,082 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Oak Thistle LLC purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,082 shares of the financial services provider’s stock, valued at approximately $270,000.

A number of other hedge funds also recently bought and sold shares of CBSH. Envestnet Asset Management Inc. boosted its holdings in Commerce Bancshares by 18.3% during the third quarter. Envestnet Asset Management Inc. now owns 185,296 shares of the financial services provider’s stock valued at $8,890,000 after acquiring an additional 28,682 shares during the period. Stifel Financial Corp lifted its stake in shares of Commerce Bancshares by 23.0% in the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock valued at $5,322,000 after buying an additional 20,737 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Commerce Bancshares by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after buying an additional 250 shares during the period. Alberta Investment Management Corp lifted its stake in shares of Commerce Bancshares by 5.2% in the third quarter. Alberta Investment Management Corp now owns 26,897 shares of the financial services provider’s stock valued at $1,291,000 after buying an additional 1,320 shares during the period. Finally, Laurion Capital Management LP bought a new stake in shares of Commerce Bancshares in the third quarter valued at about $231,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CBSH. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Piper Sandler increased their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.29.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the transaction, the chief executive officer now directly owns 198,387 shares of the company’s stock, valued at $11,262,429.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Trading Down 1.0 %

Shares of CBSH traded down $0.56 during mid-day trading on Monday, hitting $55.22. 472,683 shares of the company traded hands, compared to its average volume of 473,060. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $57.48. The business has a 50-day moving average of $55.10 and a 200 day moving average of $53.48. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.81 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The business had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. During the same period in the prior year, the firm earned $0.90 earnings per share. Commerce Bancshares’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.57 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.96%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.12%.

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.