Simmons Bank Boosts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Simmons Bank grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 15,131 shares of the financial services provider’s stock after purchasing an additional 714 shares during the period. Simmons Bank’s holdings in Commerce Bancshares were worth $943,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Commerce Bancshares by 12,340.0% in the 3rd quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,234 shares in the last quarter. Raymond James & Associates boosted its position in shares of Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock worth $8,497,000 after purchasing an additional 7,512 shares in the last quarter. Allworth Financial LP boosted its position 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 worth $34,000 after purchasing an additional 192 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Commerce Bancshares by 81.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 6,349 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Commerce Bancshares by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,747 shares of the financial services provider’s stock worth $816,000 after purchasing an additional 920 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.1 %

CBSH stock opened at $64.28 on Thursday. The stock has a market capitalization of $8.24 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The stock’s 50 day simple moving average is $64.68 and its 200 day simple moving average is $64.47. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. Commerce Bancshares’s payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Commerce Bancshares

In other news, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at $1,513,222. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the sale, the chairman now owns 23,725 shares of the company’s stock, valued at $1,642,244.50. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,054 shares of company stock worth $5,771,192. Insiders own 3.10% of the company’s stock.

Commerce Bancshares 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.