Gibraltar Capital Management Inc. Purchases 290 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Gibraltar Capital Management Inc. grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,107 shares of the financial services provider’s stock after purchasing an additional 290 shares during the period. Gibraltar Capital Management Inc.’s holdings in Commerce Bancshares were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of Commerce Bancshares by 12,340.0% in the 3rd quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,234 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock worth $8,497,000 after buying an additional 7,512 shares during the last quarter. Allworth Financial LP grew its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Commerce Bancshares by 81.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 6,349 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Commerce Bancshares by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 13,747 shares of the financial services provider’s stock valued at $816,000 after acquiring an additional 920 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.2 %

Commerce Bancshares stock opened at $64.24 on Wednesday. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The company has a market cap of $8.24 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.13 and a beta of 0.80. The business has a 50-day simple moving average of $64.67 and a two-hundred day simple moving average of $64.47.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during 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 company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. This is a boost 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 yield of 1.71%. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

Insider Transactions at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the sale, the chief executive officer now owns 211,929 shares in the company, valued at $14,258,583.12. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin G. Barth sold 24,870 shares of the firm’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders sold 86,054 shares of company stock valued at $5,771,192 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Commerce Bancshares

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.