Enterprise Financial Services Corp Invests $411,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Enterprise Financial Services Corp purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,604 shares of the financial services provider’s stock, valued at approximately $411,000.

Other hedge funds have also recently made changes to their positions in the company. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at $35,000. Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $39,000. True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $47,000. V Square Quantitative Management LLC boosted its stake in shares of Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the sale, the executive vice president now owns 45,511 shares in the company, valued at approximately $3,006,456.66. This represents a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,516 shares of company stock worth $5,457,086. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Up 0.4 %

Shares of NASDAQ CBSH opened at $62.22 on Friday. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The business’s 50 day moving average is $64.72 and its two-hundred day moving average is $64.58.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business 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 company earned $0.84 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. 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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is presently 27.43%.

Analyst Upgrades and Downgrades

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

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.