Amalgamated Bank Has $3.66 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amalgamated Bank boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,732 shares of the financial services provider’s stock after acquiring an additional 2,681 shares during the quarter. Amalgamated Bank’s holdings in Commerce Bancshares were worth $3,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Commerce Bancshares by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock valued at $17,512,000 after buying an additional 9,362 shares during the last quarter. Virtu Financial LLC bought a new position in Commerce Bancshares in the 3rd quarter valued at about $566,000. Procyon Advisors LLC acquired a new position in Commerce Bancshares during the 4th quarter valued at about $200,000. Centiva Capital LP bought a new stake in Commerce Bancshares during the 3rd quarter worth approximately $581,000. Finally, PFW Advisors LLC bought a new stake in Commerce Bancshares during the 4th quarter worth approximately $1,336,000. Institutional investors 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 sale, the chief financial officer now directly owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the transaction, the chief executive officer now owns 211,929 shares of the company’s stock, valued at $14,258,583.12. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,054 shares of company stock valued at $5,771,192. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

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

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $65.03 on Friday. The business’s fifty day moving average is $64.74 and its 200-day moving average is $64.50. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a one year low of $47.89 and a one year high of $72.75.

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 the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This is an increase 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 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.