Commerce Bancshares, Inc. $CBSH Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,804 shares of the financial services provider’s stock after buying an additional 48,508 shares during the quarter. Fisher Asset Management LLC owned about 0.19% of Commerce Bancshares worth $15,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Quent Capital LLC purchased a new stake in Commerce Bancshares in the third quarter valued at approximately $31,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares during the second quarter worth approximately $33,000. Rothschild Investment LLC increased its position in Commerce Bancshares by 3,820.0% during the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 573 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Commerce Bancshares during the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen lowered 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 note on Wednesday, January 7th. Zacks Research cut Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Morgan Stanley dropped their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. Finally, Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.51.

Insider Activity

In related news, SVP David L. Roller sold 1,134 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $54.48, for a total value of $61,780.32. Following the completion of the sale, the senior vice president directly owned 30,535 shares of the company’s stock, valued at $1,663,546.80. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total value of $56,793.60. Following the sale, the senior vice president owned 14,585 shares in the company, valued at $793,424. The trade was a 6.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 27,667 shares of company stock worth $1,493,323. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Up 1.2%

CBSH stock opened at $52.25 on Thursday. The stock’s 50 day moving average is $53.38 and its two-hundred day moving average is $53.88. Commerce Bancshares, Inc. has a 52-week low of $48.69 and a 52-week high of $63.19. The company has a market capitalization of $7.67 billion, a PE ratio of 12.47, a P/E/G ratio of 2.59 and a beta of 0.61.

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

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. Commerce Bancshares’s payout ratio is presently 26.25%.

Commerce Bancshares Profile

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.