EP Wealth Advisors LLC Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

EP Wealth Advisors LLC 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 and Exchange Commission (SEC). The fund bought 4,232 shares of the financial services provider's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kapitalo Investimentos Ltda acquired a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $26,000. CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC lifted its stake 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 worth $49,000 after acquiring an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of 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 worth $52,000 after acquiring an additional 268 shares during the period. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Up 0.1%

CBSH traded up $0.08 during trading on Friday, hitting $65.63. The company's stock had a trading volume of 443,395 shares, compared to its average volume of 589,672. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The stock's fifty day moving average price is $60.88 and its 200-day moving average price is $64.41. The firm has a market capitalization of $8.76 billion, a P/E ratio of 16.37, a PEG ratio of 2.13 and a beta of 0.60.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders 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 dividend yield of 1.68%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CBSH. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Wells Fargo & Company cut their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler boosted 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. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.20.

Insider Transactions at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 3,175 shares of the company's stock, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.

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.