Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Boosted by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,610 shares of the financial services provider’s stock after purchasing an additional 2,745 shares during the quarter. Cerity Partners LLC’s holdings in Commerce Bancshares were worth $513,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its stake in Commerce Bancshares by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after buying an additional 250 shares during the last quarter. Delta Financial Group Inc. increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Delta Financial Group Inc. now owns 5,250 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 250 shares during the period. Heartland Bank & Trust Co increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Heartland Bank & Trust Co now owns 5,334 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 254 shares during the period. Sound Stewardship LLC increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Sound Stewardship LLC now owns 5,403 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 256 shares during the period. Finally, First Bank & Trust increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. First Bank & Trust now owns 5,628 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 268 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Trading Up 1.5 %

Shares of CBSH opened at $55.92 on Thursday. The business’s 50-day moving average price is $52.33 and its 200 day moving average price is $51.18. The stock has a market capitalization of $7.26 billion, a P/E ratio of 15.60 and a beta of 0.79. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. Commerce Bancshares’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. Commerce Bancshares’s payout ratio is presently 30.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price target on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Wednesday, April 17th. Finally, Bank of America assumed coverage on Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the sale, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $403,909.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at $403,909.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,661 shares of company stock worth $606,528. 3.10% of the stock is currently owned by company insiders.

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.