Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 391,932 shares of the financial services provider’s stock after buying an additional 29,032 shares during the period. Los Angeles Capital Management LLC’s holdings in Commerce Bancshares were worth $24,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank grew its holdings in Commerce Bancshares by 4.8% in the 4th quarter. Amalgamated Bank now owns 58,732 shares of the financial services provider’s stock worth $3,660,000 after buying an additional 2,681 shares in the last quarter. Vaughan David Investments LLC IL grew its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Vaughan David Investments LLC IL now owns 20,815 shares of the financial services provider’s stock worth $1,297,000 after purchasing an additional 987 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 13,796 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 655 shares during the period. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $35,000. Finally, Peregrine Asset Advisers Inc. lifted its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 25,192 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 1,199 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock worth $5,771,192 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $64.24 on Wednesday. The company’s 50 day simple moving average is $64.67 and its 200 day simple moving average is $64.47. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75. The company has a market capitalization of $8.24 billion, a P/E ratio of 16.02, a PEG ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a $0.275 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s payout ratio is presently 27.43%.

Wall Street Analyst Weigh In

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

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.