Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Raised by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,717 shares of the financial services provider’s stock after buying an additional 1,793 shares during the quarter. Sanctuary Advisors LLC’s holdings in Commerce Bancshares were worth $2,987,000 as of its most recent SEC filing.

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

Commerce Bancshares Trading Down 1.4 %

Shares of Commerce Bancshares stock opened at $64.00 on Friday. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The company’s fifty day simple moving average is $64.79 and its 200-day simple moving average is $64.39. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly 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. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.72%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.93%.

Insider Activity at Commerce Bancshares

In other news, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, December 5th. The stock was 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. This trade represents a 15.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the transaction, the senior vice president now owns 22,265 shares of the company’s stock, valued at $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock worth $5,771,192 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.