Connectus Wealth LLC Has $940,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Connectus Wealth LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSHFree Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,594 shares of the financial services provider’s stock after purchasing an additional 266 shares during the period. Connectus Wealth LLC’s holdings in Commerce Bancshares were worth $940,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Commerce Bank increased its position in Commerce Bancshares by 2.8% in the 4th quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock worth $385,771,000 after purchasing an additional 196,431 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Commerce Bancshares by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,345,252 shares of the financial services provider’s stock worth $125,260,000 after acquiring an additional 155,526 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Commerce Bancshares by 22.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock worth $89,541,000 after acquiring an additional 302,630 shares in the last quarter. Norges Bank bought a new stake in shares of Commerce Bancshares during the 4th quarter worth about $71,835,000. Finally, Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares by 6.7% during the 4th quarter. Boston Trust Walden Corp now owns 1,094,108 shares of the financial services provider’s stock worth $58,436,000 after acquiring an additional 68,245 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $56.77, for a total value of $1,509,003.37. Following the transaction, the chief executive officer now directly owns 198,387 shares in the company, valued at approximately $11,262,429.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

CBSH stock opened at $53.60 on Tuesday. The business has a fifty day moving average price of $54.71 and a 200 day moving average price of $53.20. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $57.48. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.78 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.54 earnings per share 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 given a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.01%. Commerce Bancshares’s payout ratio is 30.12%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CBSH. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Wednesday, April 17th. Piper Sandler increased their target price on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $55.29.

View Our Latest Research Report on Commerce Bancshares

Commerce Bancshares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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