Everpar Advisors LLC Purchases New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Everpar Advisors LLC acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, Holdings Channel.com reports. The fund acquired 6,693 shares of the financial services provider’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Commerce Bancshares during the fourth quarter valued at $35,000. Adirondack Trust Co. bought a new position in shares of Commerce Bancshares during the third quarter valued at $44,000. Exchange Traded Concepts LLC bought a new position in shares of Commerce Bancshares during the fourth quarter valued at $55,000. Finally, Signaturefd LLC increased its holdings in shares of Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $403,909.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the transaction, the executive vice president now directly owns 50,293 shares in the company, valued at $2,648,429.38. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Stock Up 0.7 %

NASDAQ:CBSH traded up $0.39 on Wednesday, hitting $56.41. The stock had a trading volume of 337,426 shares, compared to its average volume of 480,725. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 15.62 and a beta of 0.76. The business’s 50-day simple moving average is $53.03 and its two-hundred day simple moving average is $51.70. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $57.00.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.48 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced 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 of this dividend is Wednesday, June 5th. This represents a $1.08 annualized dividend and a yield of 1.91%. Commerce Bancshares’s payout ratio is 30.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CBSH. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Piper Sandler raised their price target on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Morgan Stanley raised their price target on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.00.

Commerce Bancshares Company Profile

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.