Peregrine Asset Advisers Inc. Has $1.28 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Peregrine Asset Advisers Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,993 shares of the financial services provider’s stock after purchasing an additional 1,142 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Commerce Bancshares were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK lifted its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 210 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Commerce Bancshares by 14.4% during the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after buying an additional 213 shares during the period. Treasurer of the State of North Carolina grew its stake in Commerce Bancshares by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after buying an additional 250 shares during the last quarter. Delta Financial Group Inc. raised its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Delta Financial Group Inc. now owns 5,250 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 250 shares during the period. Finally, Heartland Bank & Trust Co lifted its position in Commerce Bancshares by 5.0% during the 4th quarter. Heartland Bank & Trust Co now owns 5,334 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 254 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded up $0.01 during trading on Monday, reaching $56.15. 352,991 shares of the company traded hands, compared to its average volume of 481,472. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $57.00. The stock’s 50 day moving average price is $52.87 and its two-hundred day moving average price is $51.56. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 15.64 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.48 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.92%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Insider Activity at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David L. Roller sold 1,392 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $50.62, for a total value of $70,463.04. Following the completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at $1,566,638.38. The disclosure for this sale can be found here. Insiders sold 9,876 shares of company stock valued at $510,441 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CBSH. Morgan Stanley lifted their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Wednesday, April 17th. Piper Sandler boosted their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.00.

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.