Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,650 shares of the financial services provider’s stock after purchasing an additional 2,078 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Commerce Bancshares were worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $26,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $33,000. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $35,000. V Square Quantitative Management LLC increased its position in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 268 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CBSH shares. Keefe, Bruyette & Woods lowered their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Wells Fargo & Company lowered 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. Piper Sandler raised their target price on Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.20.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $65.55 on Friday. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75. The stock has a market cap of $8.75 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The business’s fifty day moving average is $60.76 and its 200-day moving average is $64.39.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to analysts’ expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, June 6th. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Insider Transactions at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares of the company’s stock, valued at $192,786. This trade represents a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares 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.