Bayesian Capital Management LP Acquires New Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Bayesian Capital Management LP bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,843 shares of the financial services provider's stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth about $86,327,000. American Century Companies Inc. lifted its holdings in Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the period. Vanguard Group Inc. boosted its position in Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares in the last quarter. Aristotle Capital Management LLC boosted its position in Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after purchasing an additional 351,406 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Commerce Bancshares by 31.8% during the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after purchasing an additional 310,443 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction on Thursday, May 1st. The stock was 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 of the company's stock, valued at approximately $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

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

Commerce Bancshares Stock Up 3.7%

Shares of NASDAQ CBSH traded up $2.33 during trading on Monday, hitting $65.73. The company had a trading volume of 302,754 shares, compared to its average volume of 587,734. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The stock has a fifty day simple moving average of $60.47 and a two-hundred day simple moving average of $64.32. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $417.85 million. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio is presently 26.63%.

Commerce Bancshares 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.