EP Wealth Advisors LLC Acquires New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

EP Wealth Advisors LLC acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,232 shares of the financial services provider's stock, valued at approximately $264,000.

Other hedge funds have also recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares in the 4th quarter worth approximately $33,000. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $35,000. V Square Quantitative Management LLC boosted its position in 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 buying an additional 361 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings 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 buying an additional 268 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CBSH shares. Keefe, Bruyette & Woods cut their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler increased their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $63.20.

Commerce Bancshares Stock Performance

Commerce Bancshares stock traded down $0.18 during mid-day trading on Monday, reaching $65.46. The company's stock had a trading volume of 22,888 shares, compared to its average volume of 588,821. The firm's fifty day moving average price is $60.88 and its two-hundred day moving average price is $64.43. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The company has a market capitalization of $8.73 billion, a P/E ratio of 16.32, a PEG ratio of 2.13 and a beta of 0.60.

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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 25.24% and a return on equity of 16.31%. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a $0.275 dividend. The ex-dividend date of this dividend 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.