Louisiana State Employees Retirement System Has $2.12 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Louisiana State Employees Retirement System raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,025 shares of the financial services provider’s stock after buying an additional 1,525 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Commerce Bancshares were worth $2,120,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Commerce Bancshares during the third quarter worth approximately $566,000. Procyon Advisors LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $200,000. Centiva Capital LP acquired a new position in shares of Commerce Bancshares during the third quarter worth approximately $581,000. PFW Advisors LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $1,336,000. Finally, Barclays PLC lifted its holdings in shares of Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $67.83.

Insider Transactions at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David W. Kemper sold 4,500 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the sale, the chairman now owns 23,725 shares in the company, valued at $1,642,244.50. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,944 shares of company stock worth $5,835,512. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $65.74 on Friday. The business’s fifty day moving average price is $65.05 and its two-hundred day moving average price is $64.26. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Research analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

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.