Commerce Bancshares, Inc. (NASDAQ:CBSH) Holdings Lifted by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 620,590 shares of the financial services provider's stock after purchasing an additional 33,679 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.48% of Commerce Bancshares worth $38,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock worth $6,353,000 after purchasing an additional 17,400 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $2,861,000. Clark & Stuart Inc purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth about $5,317,000. PFW Advisors LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth about $1,336,000. Finally, Oak Thistle LLC lifted its position in Commerce Bancshares by 15.8% during the 4th quarter. Oak Thistle LLC now owns 19,624 shares of the financial services provider's stock worth $1,223,000 after acquiring an additional 2,681 shares in the last quarter. Hedge funds and other institutional investors 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 firm's stock in a transaction dated 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 of the company's stock, valued at $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBSH. Wells Fargo & Company reduced 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. 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 research report on Monday, April 7th. Piper Sandler boosted their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price target on 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. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares currently has an average rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Stock Up 0.1%

Shares of CBSH traded up $0.08 during trading on Friday, reaching $65.63. The company's stock had a trading volume of 443,395 shares, compared to its average volume of 591,038. The company has a fifty day moving average of $60.88 and a two-hundred day moving average of $64.43. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 2.13 and a beta of 0.60.

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. The business had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. Commerce Bancshares's payout ratio is currently 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.