American Century Companies Inc. Purchases 202,758 Shares of Commerce Bancshares, Inc. $CBSH

American Century Companies Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,972,884 shares of the financial services provider’s stock after acquiring an additional 202,758 shares during the quarter. American Century Companies Inc. owned about 2.98% of Commerce Bancshares worth $237,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Commerce Bancshares in the second quarter valued at about $89,282,000. Boston Trust Walden Corp grew its holdings in Commerce Bancshares by 28.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,903,362 shares of the financial services provider’s stock valued at $113,745,000 after buying an additional 420,053 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Commerce Bancshares by 172.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 405,531 shares of the financial services provider’s stock worth $25,212,000 after buying an additional 256,650 shares during the period. Midwest Trust Co bought a new position in Commerce Bancshares in the 2nd quarter worth approximately $10,667,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Commerce Bancshares during the second quarter worth approximately $10,331,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In related news, SVP David L. Roller sold 2,092 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total transaction of $111,545.44. Following the sale, the senior vice president directly owned 28,933 shares in the company, valued at $1,542,707.56. This represents a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 23,397 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $53.99, for a total value of $1,263,204.03. Following the sale, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at $11,150,446.72. This represents a 10.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,667 shares of company stock valued at $1,493,323 in the last three months. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CBSH has been the topic of several research analyst reports. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. TD Cowen cut their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. Finally, Zacks Research cut shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $61.75.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $50.99 on Friday. The stock has a market cap of $7.49 billion, a PE ratio of 12.17, a PEG ratio of 2.56 and a beta of 0.62. The business has a fifty day moving average of $53.45 and a two-hundred day moving average of $54.03. Commerce Bancshares, Inc. has a 52-week low of $48.69 and a 52-week high of $63.30.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The business had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter last year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.2%. Commerce Bancshares’s payout ratio is 26.25%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.