Xponance Inc. Raises Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Xponance Inc. boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,529 shares of the financial services provider’s stock after purchasing an additional 926 shares during the period. Xponance Inc.’s holdings in Commerce Bancshares were worth $776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBSH. Walleye Capital LLC boosted its holdings in Commerce Bancshares by 147.7% in the third quarter. Walleye Capital LLC now owns 296,634 shares of the financial services provider’s stock valued at $14,232,000 after purchasing an additional 176,897 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Commerce Bancshares by 12.4% in the third quarter. Schroder Investment Management Group now owns 618,515 shares of the financial services provider’s stock valued at $29,676,000 after purchasing an additional 68,256 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in Commerce Bancshares by 6.7% in the fourth quarter. Boston Trust Walden Corp now owns 1,094,108 shares of the financial services provider’s stock valued at $58,436,000 after purchasing an additional 68,245 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Commerce Bancshares by 382.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,192 shares of the financial services provider’s stock valued at $2,552,000 after purchasing an additional 42,167 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Commerce Bancshares by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 883,380 shares of the financial services provider’s stock valued at $42,385,000 after purchasing an additional 36,554 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s 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 sale, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP David L. Roller sold 1,392 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $50.62, for a total value of $70,463.04. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $1,566,638.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 33,567 shares in the company, valued at $1,806,911.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,661 shares of company stock valued at $606,528. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased 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. Morgan Stanley increased their target price on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Bank of America began 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. 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, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Commerce Bancshares Trading Down 0.9 %

Shares of NASDAQ CBSH opened at $55.44 on Friday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 15.46 and a beta of 0.79. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $56.75. The stock’s 50 day simple moving average is $52.41 and its 200 day simple moving average is $51.21.

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

Commerce Bancshares Announces Dividend

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

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.