Alberta Investment Management Corp Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Alberta Investment Management Corp boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 22.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 46,208 shares of the financial services provider’s stock after buying an additional 8,437 shares during the quarter. Alberta Investment Management Corp’s holdings in Commerce Bancshares were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CBSH. Allworth Financial LP lifted its holdings in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter worth approximately $39,000. True Wealth Design LLC acquired a new position in Commerce Bancshares during the third quarter worth approximately $47,000. V Square Quantitative Management LLC lifted its stake in Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after buying an additional 361 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the sale, the chairman now owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. The trade was a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,054 shares of company stock valued at $5,771,192. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Commerce Bancshares Stock Down 1.5 %

NASDAQ CBSH opened at $64.90 on Friday. The stock has a market capitalization of $8.32 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.19 and a beta of 0.80. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The firm has a 50-day moving average price of $64.86 and a 200 day moving average price of $64.33.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.92 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a $0.275 dividend. 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 annualized dividend and a yield of 1.69%. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

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.