Envestnet Asset Management Inc. Has $16.89 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Envestnet Asset Management Inc. raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,032 shares of the financial services provider’s stock after purchasing an additional 2,923 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of Commerce Bancshares worth $16,888,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Atria Wealth Solutions Inc. raised its stake in Commerce Bancshares by 1.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock valued at $689,000 after buying an additional 166 shares during the period. Apriem Advisors raised its stake in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 182 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 183 shares during the period. Verde Capital Management lifted its holdings in Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 183 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in Commerce Bancshares by 4.9% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 186 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the topic of several research analyst reports. Piper Sandler increased their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.17.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $58.75 on Wednesday. The stock’s fifty day moving average price is $61.97 and its two-hundred day moving average price is $64.10. The firm has a market cap of $7.88 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a one year low of $48.57 and a one year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.87%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

Insider Buying and Selling at Commerce Bancshares

In other news, EVP Kevin G. Barth sold 24,870 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the sale, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the transaction, the chief executive officer now directly owns 211,929 shares of the company’s stock, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,434 shares of company stock worth $5,248,272 over the last three months. Corporate insiders own 3.10% of the company’s stock.

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.