Aristotle Capital Management LLC Acquires 351,406 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Aristotle Capital Management LLC raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,566,476 shares of the financial services provider's stock after buying an additional 351,406 shares during the quarter. Aristotle Capital Management LLC owned about 6.68% of Commerce Bancshares worth $533,777,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new position in shares of Commerce Bancshares in the 4th quarter worth about $26,000. CoreFirst Bank & Trust purchased a new position in Commerce Bancshares in the fourth quarter worth about $33,000. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC grew its holdings in shares of Commerce Bancshares by 84.0% during the fourth 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 last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Up 2.0 %

CBSH traded up $1.27 during midday trading on Thursday, reaching $63.45. The company had a trading volume of 163,303 shares, compared to its average volume of 586,439. The business has a 50-day moving average of $60.49 and a two-hundred day moving average of $64.26. The company has a market cap of $8.51 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.73%. Commerce Bancshares's payout ratio is 26.63%.

Insider Transactions at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares of the company's stock, valued at approximately $192,786. This trade represents a 33.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles G. Kim sold 13,493 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CBSH shares. Wells Fargo & Company cut their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. StockNews.com downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $63.20.

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.