Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,876 shares of the financial services provider's stock after acquiring an additional 9,136 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of Commerce Bancshares worth $4,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CBSH. Principal Financial Group Inc. raised its position in Commerce Bancshares by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider's stock valued at $17,512,000 after purchasing an additional 9,362 shares in the last quarter. Procyon Advisors LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at approximately $200,000. PFW Advisors LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth $1,336,000. Vanguard Group Inc. boosted its position in shares of Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after acquiring an additional 642,401 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after buying an additional 17,400 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH traded up $0.13 during midday trading on Friday, hitting $63.43. The company had a trading volume of 329,794 shares, compared to its average volume of 587,560. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The company's 50 day moving average price is $60.46 and its 200 day moving average price is $64.28.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction on Thursday, May 1st. The stock was 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 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

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.