Elser Financial Planning Inc Purchases 211 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Elser Financial Planning Inc lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 4,318 shares of the financial services provider’s stock after acquiring an additional 211 shares during the period. Elser Financial Planning Inc’s holdings in Commerce Bancshares were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. 17 Capital Partners LLC increased its position in Commerce Bancshares by 5.0% during the fourth quarter. 17 Capital Partners LLC now owns 10,954 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 519 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Commerce Bancshares by 7.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 13,868 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 1,020 shares during the period. Stephens Inc. AR grew its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Stephens Inc. AR now owns 11,433 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 538 shares during the period. Entropy Technologies LP bought a new stake in Commerce Bancshares during the fourth quarter valued at about $428,000. Finally, Moloney Securities Asset Management LLC bought a new stake in Commerce Bancshares during the fourth quarter valued at about $204,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of several recent research reports. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report 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. Wells Fargo & Company boosted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $67.83.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $67.65 on Monday. The business’s 50 day moving average price is $65.37 and its 200-day moving average price is $64.19. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.93%.

Insiders Place Their Bets

In related news, EVP Kevin G. Barth sold 24,870 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,339 shares of company stock worth $4,985,251 in the last ninety days. 3.20% of the stock is owned by company insiders.

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.