Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Raised by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 11.3% in the 4th quarter, Holdings Channel reports. The fund owned 2,604 shares of the financial services provider’s stock after buying an additional 264 shares during the period. Parkside Financial Bank & Trust’s holdings in Commerce Bancshares were worth $139,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. National Bank of Canada FI lifted its position in Commerce Bancshares by 198.5% in the 3rd quarter. National Bank of Canada FI now owns 23,372 shares of the financial services provider’s stock worth $1,081,000 after buying an additional 15,541 shares in the last quarter. AE Wealth Management LLC purchased a new stake in Commerce Bancshares in the 3rd quarter worth approximately $221,000. Ballentine Partners LLC purchased a new stake in Commerce Bancshares in the 3rd quarter worth approximately $312,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Commerce Bancshares by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the financial services provider’s stock worth $1,138,000 after buying an additional 3,937 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC lifted its position in Commerce Bancshares by 5.5% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock worth $596,000 after buying an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 1.5 %

Shares of CBSH opened at $55.92 on Thursday. The company’s fifty day moving average is $52.33 and its 200-day moving average is $51.18. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $56.75. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 15.60 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The business had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. During the same period last year, the business posted $0.90 EPS. Commerce Bancshares’s revenue was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. Commerce Bancshares’s payout ratio is presently 30.12%.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Morgan Stanley increased their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Piper Sandler increased their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Bank of America began coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.00.

Insider Activity at Commerce Bancshares

In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the sale, the executive vice president now directly owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the sale, the director now owns 33,567 shares in the company, valued at $1,806,911.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,661 shares of company stock worth $606,528. 3.20% of the stock is owned by insiders.

About Commerce Bancshares

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.