Steward Partners Investment Advisory LLC Has $2.13 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Steward Partners Investment Advisory LLC increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,133 shares of the financial services provider’s stock after acquiring an additional 2,532 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Commerce Bancshares were worth $2,127,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CBSH. Los Angeles Capital Management LLC increased its holdings in shares of Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after acquiring an additional 358,066 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after acquiring an additional 219,826 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after acquiring an additional 163,782 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Commerce Bancshares by 3,635.0% during the 4th quarter. Fisher Asset Management LLC now owns 153,171 shares of the financial services provider’s stock valued at $9,544,000 after acquiring an additional 149,070 shares during the last quarter. Finally, NFJ Investment Group LLC increased its holdings in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after acquiring an additional 106,316 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction on Monday, December 16th. The stock was sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now directly owns 21,265 shares of the company’s stock, valued at approximately $1,439,427.85. This trade represents a 4.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,516 shares of company stock valued at $5,457,086 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 0.4 %

Shares of CBSH stock opened at $62.22 on Friday. The stock has a 50 day moving average of $64.72 and a two-hundred day moving average of $64.58. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75. The company has a market capitalization of $8.33 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS 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 company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. During the same quarter last year, the company earned $0.84 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. Commerce Bancshares’s dividend payout ratio is presently 27.43%.

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.