Callan Family Office LLC Invests $225,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Callan Family Office LLC bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,611 shares of the financial services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Commerce Bancshares by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock worth $17,512,000 after buying an additional 9,362 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Commerce Bancshares in the third quarter worth approximately $566,000. Procyon Advisors LLC bought a new position in Commerce Bancshares during the fourth quarter valued at approximately $200,000. PFW Advisors LLC bought a new position in Commerce Bancshares during the fourth quarter valued at approximately $1,336,000. Finally, Centiva Capital LP bought a new position in Commerce Bancshares during the third quarter valued at approximately $581,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now directly owns 21,265 shares of the company’s stock, valued at $1,439,427.85. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the sale, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,016 shares of company stock valued at $5,422,811 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Down 2.1 %

CBSH opened at $59.57 on Wednesday. Commerce Bancshares, Inc. has a 1-year low of $47.89 and a 1-year high of $72.75. The company has a market capitalization of $7.98 billion, a PE ratio of 14.86, a PEG ratio of 2.13 and a beta of 0.78. The firm’s 50 day simple moving average is $64.63 and its two-hundred day simple moving average is $64.56.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.85%. Commerce Bancshares’s dividend payout ratio is 27.43%.

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.