Louisiana State Employees Retirement System Purchases Shares of 33,400 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Louisiana State Employees Retirement System bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,400 shares of the financial services provider's stock, valued at approximately $1,784,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Commerce Bancshares by 16.5% in the third quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider's stock valued at $6,282,000 after buying an additional 18,535 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider's stock worth $20,011,000 after purchasing an additional 15,508 shares during the period. Handelsinvest Investeringsforvaltning purchased a new stake in Commerce Bancshares in the 4th quarter worth approximately $526,000. CWM LLC boosted its position in shares of Commerce Bancshares by 10.7% during the 3rd quarter. CWM LLC now owns 147,743 shares of the financial services provider's stock valued at $7,089,000 after acquiring an additional 14,323 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Commerce Bancshares by 23.0% in the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider's stock worth $5,322,000 after acquiring an additional 20,737 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In other news, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now owns 33,567 shares in the company, valued at approximately $1,806,911.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Robert S. Holmes sold 5,000 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at $1,806,911.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,321 shares of company stock valued at $752,387. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CBSH. Morgan Stanley raised their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday. Raymond James raised shares of Commerce Bancshares from a "market perform" rating to an "outperform" rating and set a $61.00 target price on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a "market perform" rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.00.

Commerce Bancshares Trading Up 1.4 %

NASDAQ:CBSH traded up $0.75 during trading hours on Friday, hitting $53.85. The company had a trading volume of 772,608 shares, compared to its average volume of 492,803. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $56.75. The company has a market cap of $6.99 billion, a P/E ratio of 15.06 and a beta of 0.79. The company has a 50-day moving average of $52.02 and a 200 day moving average of $50.93.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The company had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. During the same period in the previous year, the company posted $0.90 EPS. Commerce Bancshares's revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that Commerce Bancshares, Inc. will post 3.39 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 annualized dividend and a yield of 2.01%. Commerce Bancshares's payout ratio is 30.12%.

About Commerce Bancshares

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.