Vanguard Group Inc. Increases Holdings in Commerce Bancshares, Inc. $CBSH

Vanguard Group Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 13,591,897 shares of the financial services provider’s stock after acquiring an additional 151,785 shares during the quarter. Vanguard Group Inc. owned 0.10% of Commerce Bancshares worth $812,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth $31,000. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth $33,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth about $48,000. Finally, Headlands Technologies LLC acquired a new stake in Commerce Bancshares in the 2nd quarter valued at about $59,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP David L. Roller sold 1,134 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $54.48, for a total value of $61,780.32. Following the completion of the sale, the senior vice president directly owned 30,535 shares in the company, valued at approximately $1,663,546.80. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derrick Brooks sold 1,044 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the transaction, the senior vice president directly owned 14,585 shares in the company, valued at approximately $793,424. This represents a 6.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 27,667 shares of company stock worth $1,493,323 in the last 90 days. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CBSH shares. Piper Sandler set a $62.00 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Zacks Research cut shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Finally, TD Cowen lowered their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Reduce” and a consensus target price of $61.75.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $54.03 on Monday. The firm has a market cap of $7.15 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. Commerce Bancshares, Inc. has a 1 year low of $48.69 and a 1 year high of $63.30. The firm’s 50 day moving average price is $53.53 and its 200 day moving average price is $54.19.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The company had revenue of $449.36 million during the quarter, compared to the consensus estimate of $442.47 million. During the same period in the previous year, the firm posted $1.01 EPS. Commerce Bancshares’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.