Amalgamated Bank Purchases 1,307 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amalgamated Bank grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,644 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the quarter. Amalgamated Bank’s holdings in Commerce Bancshares were worth $3,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBSH. BKM Wealth Management LLC bought a new position in Commerce Bancshares in the 4th quarter worth $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Commerce Bancshares in the fourth quarter worth about $35,000. Adirondack Trust Co. purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $44,000. Exchange Traded Concepts LLC bought a new stake in Commerce Bancshares during the 4th quarter valued at approximately $55,000. Finally, Signaturefd LLC lifted its holdings in Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 213 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Up 0.7 %

Shares of NASDAQ CBSH opened at $56.41 on Thursday. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 15.73 and a beta of 0.76. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $57.00. The firm’s 50-day moving average price is $53.12 and its 200-day moving average price is $51.73.

Commerce Bancshares (NASDAQ:CBSH) last posted 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. The business had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.48 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s payout ratio is 30.12%.

Insider Buying and Selling at Commerce Bancshares

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 shares were sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at $403,909.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction 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 sale, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the topic of several recent analyst reports. Bank of America began coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective on the stock. Piper Sandler boosted their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley increased their price target on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $55.00.

Commerce Bancshares 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.