Algert Global LLC purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,724 shares of the financial services provider's stock, valued at approximately $731,000.
A number of other institutional investors also recently bought and sold shares of CBSH. Kapitalo Investimentos Ltda purchased a new position in Commerce Bancshares during the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new stake in Commerce Bancshares in the 4th quarter worth approximately $33,000. Marshall Investment Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $35,000. V Square Quantitative Management LLC raised its holdings in Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after buying an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the last quarter. 70.26% of the stock is owned by institutional investors.
Commerce Bancshares Price Performance
CBSH stock remained flat at $65.45 during midday trading on Wednesday. The company's stock had a trading volume of 403,544 shares, compared to its average volume of 588,265. The business has a 50-day moving average of $60.60 and a 200 day moving average of $64.36. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The firm has a market capitalization of $8.73 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.
Commerce Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be issued 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 of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is presently 26.63%.
Insiders Place Their Bets
In other news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CBSH. Keefe, Bruyette & Woods decreased their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Piper Sandler boosted their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Wells Fargo & Company cut their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Finally, StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.20.
View Our Latest Research Report on Commerce Bancshares
About Commerce Bancshares
(
Free Report)
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.
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