Invesco Ltd. Has $22.40 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Invesco Ltd. lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 75.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 359,482 shares of the financial services provider's stock after buying an additional 154,751 shares during the quarter. Invesco Ltd. owned about 0.28% of Commerce Bancshares worth $22,399,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Commerce Bancshares by 5.1% in 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 buying an additional 642,401 shares during the last quarter. American Century Companies Inc. increased its position in Commerce Bancshares by 25.5% in the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Commerce Bancshares by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock valued at $155,756,000 after acquiring an additional 87,723 shares in the last quarter. Wells Fargo & Company MN raised its position in Commerce Bancshares by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock worth $135,533,000 after acquiring an additional 38,210 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Commerce Bancshares by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider's stock valued at $99,364,000 after purchasing an additional 182,423 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Stock Up 0.6 %

Shares of CBSH traded up $0.37 during mid-day trading on Thursday, reaching $60.75. 85,529 shares of the stock traded hands, compared to its average volume of 587,194. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The stock has a fifty day simple moving average of $61.15 and a 200 day simple moving average of $64.14. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly 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 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, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a $0.275 dividend. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares's payout ratio is currently 26.63%.

Analysts Set New Price Targets

CBSH has been the subject of a number of research reports. StockNews.com cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods reduced 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. Wells Fargo & Company dropped their target price on 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. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. Finally, Piper Sandler increased their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of "Hold" and an average price target of $63.20.

Insider Buying and Selling at Commerce Bancshares

In other news, VP David L. Orf sold 1,036 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.06, for a total value of $1,642,912.20. Following the completion of the sale, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. This represents a 35.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 over the last quarter. 3.10% of the stock is 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.