Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.1% in the 4th quarter, HoldingsChannel reports. The firm owned 26,835 shares of the financial services provider’s stock after buying an additional 3,107 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commerce Bancshares were worth $1,433,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CBSH. AE Wealth Management LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $221,000. Ballentine Partners LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $312,000. FORVIS Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 5.5% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 650 shares during the last quarter. Advisor Partners II LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $201,000. Finally, TIAA Trust National Association acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $230,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now owns 33,567 shares in the company, valued at approximately $1,806,911.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the sale, the director now owns 33,567 shares in the company, valued at $1,806,911.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Insiders have sold 11,661 shares of company stock worth $606,528 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Stock Down 0.9 %

Shares of NASDAQ CBSH opened at $55.44 on Friday. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $56.75. The firm has a fifty day moving average of $52.41 and a 200-day moving average of $51.21. The stock has a market capitalization of $7.20 billion, a PE ratio of 15.46 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same period in the previous year, the company earned $0.90 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.95%. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CBSH shares. Piper Sandler lifted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Bank of America assumed coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $55.00.

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.