Diversified Trust Co. Invests $878,000 in Commerce Bancshares, Inc. $CBSH

Diversified Trust Co. bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,778 shares of the financial services provider’s stock, valued at approximately $878,000.

Other institutional investors have also recently made changes to their positions in the company. Profund Advisors LLC increased its stake in Commerce Bancshares by 4.4% during the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 197 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Commerce Bancshares by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Commerce Bancshares by 2.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 215 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Commerce Bancshares by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,600 shares of the financial services provider’s stock worth $2,366,000 after purchasing an additional 229 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total value of $56,793.60. Following the completion of the sale, the senior vice president directly owned 14,585 shares in the company, valued at approximately $793,424. This represents a 6.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 23,397 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total value of $1,263,204.03. Following the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at $11,150,446.72. The trade was a 10.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,477 shares of company stock valued at $1,586,655 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBSH. TD Cowen cut their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Morgan Stanley dropped their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Finally, Piper Sandler set a $62.00 target price on shares of 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 and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.51.

Commerce Bancshares Price Performance

Shares of CBSH opened at $48.99 on Friday. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.43 and a beta of 0.61. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $63.19. The company has a 50-day moving average of $51.84 and a 200 day moving average of $52.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $449.36 million for 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 6th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 2.2%. Commerce Bancshares’s dividend payout ratio is 26.25%.

Commerce Bancshares Company 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.