Captrust Financial Advisors Purchases 6,675 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Captrust Financial Advisors increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 31.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,894 shares of the financial services provider's stock after acquiring an additional 6,675 shares during the quarter. Captrust Financial Advisors' holdings in Commerce Bancshares were worth $1,738,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CBSH. Kapitalo Investimentos Ltda bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $35,000. V Square Quantitative Management LLC boosted its position in shares of Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Commerce Bancshares by 46.9% in the fourth 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 in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the company'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 sale, the director now directly owns 3,175 shares in the company, valued at $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $65.62 on Tuesday. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The firm has a 50 day moving average price of $60.53 and a 200-day moving average price of $64.35.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The firm 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%. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share 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 issued a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. Commerce Bancshares's payout ratio is 26.63%.

Analyst Upgrades and Downgrades

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

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.

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