Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Boston Trust Walden Corp

Boston Trust Walden Corp boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,468,854 shares of the financial services provider’s stock after buying an additional 219,826 shares during the quarter. Boston Trust Walden Corp’s holdings in Commerce Bancshares were worth $91,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $26,000. Allworth Financial LP increased its stake in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares in the 3rd quarter worth about $39,000. True Wealth Design LLC purchased a new position in Commerce Bancshares during the third quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC grew its holdings in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In related news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, the senior vice president now owns 22,265 shares in the company, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,990 shares of company stock valued at $2,475,680. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $66.80 on Monday. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.21 and a beta of 0.80. The business’s 50 day moving average price is $66.01 and its 200 day moving average price is $64.05.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $417.48 million. During the same quarter in the previous year, the company posted $0.84 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal 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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average price target of $67.83.

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.