Vest Financial LLC Buys Shares of 27,005 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Vest Financial LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,005 shares of the financial services provider's stock, valued at approximately $1,681,000.

Several other institutional investors have also recently added to or reduced their stakes in CBSH. Kapitalo Investimentos Ltda acquired a new stake in Commerce Bancshares during the fourth quarter worth approximately $26,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares during the 4th quarter worth $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at $35,000. V Square Quantitative Management LLC lifted 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 acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Price Performance

Shares of CBSH stock traded down $1.39 during mid-day trading on Wednesday, hitting $62.29. The stock had a trading volume of 435,475 shares, compared to its average volume of 593,194. The firm has a market cap of $8.31 billion, a PE ratio of 15.55, a PEG ratio of 2.13 and a beta of 0.60. The company's 50-day simple moving average is $61.54 and its 200-day simple moving average is $63.72. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. On average, analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid 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 dividend yield of 1.77%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Piper Sandler lifted their price objective 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. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.20.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were 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 in the company, valued at approximately $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Company 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.