Concurrent Investment Advisors LLC Raises Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Concurrent Investment Advisors LLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 57.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,319 shares of the financial services provider's stock after buying an additional 17,712 shares during the period. Concurrent Investment Advisors LLC's holdings in Commerce Bancshares were worth $3,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CBSH. Norges Bank bought a new position in Commerce Bancshares in the fourth quarter worth about $86,327,000. American Century Companies Inc. increased its stake in shares of 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 valued at $228,991,000 after purchasing an additional 745,661 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 valued at $824,080,000 after purchasing an additional 642,401 shares in the last quarter. Aristotle Capital Management LLC increased its stake in shares of 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 valued at $533,777,000 after purchasing an additional 351,406 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of 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 valued at $80,161,000 after purchasing an additional 310,443 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Transactions at Commerce Bancshares

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

Commerce Bancshares Stock Up 0.6%

Shares of NASDAQ:CBSH traded up $0.37 during trading on Tuesday, reaching $65.30. 91,911 shares of the stock traded hands, compared to its average volume of 612,951. The stock has a 50-day moving average of $62.89 and a two-hundred day moving average of $62.75. Commerce Bancshares, Inc. has a 52-week low of $52.57 and a 52-week high of $72.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $8.71 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 2.85 and a beta of 0.59.

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 (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. The company had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, June 6th. Commerce Bancshares's dividend payout ratio is currently 26.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CBSH. Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Keefe, Bruyette & Woods decreased their target price on shares of 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 raised their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $65.60.

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.