Quantinno Capital Management LP Purchases 7,967 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Quantinno Capital Management LP increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,596 shares of the financial services provider's stock after purchasing an additional 7,967 shares during the period. Quantinno Capital Management LP owned approximately 0.10% of Commerce Bancshares worth $7,764,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $86,327,000. American Century Companies Inc. raised its holdings in Commerce Bancshares by 25.5% during the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after acquiring an additional 745,661 shares in the last quarter. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 5.1% during the fourth 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. Aristotle Capital Management LLC raised its holdings in Commerce Bancshares by 4.3% during the fourth quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after acquiring an additional 351,406 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Commerce Bancshares by 31.8% during the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock worth $80,161,000 after acquiring an additional 310,443 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm's 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 sale, the director now owns 3,175 shares of the company's stock, valued at approximately $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH traded down $0.77 during trading hours on Wednesday, reaching $64.22. 101,407 shares of the stock were exchanged, compared to its average volume of 585,492. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 16.01, a P/E/G 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 stock's fifty day simple moving average is $61.12 and its 200 day simple moving average is $64.46.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results 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 company had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend 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.