Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 56.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,669 shares of the financial services provider's stock after buying an additional 6,373 shares during the quarter. NewEdge Advisors LLC's holdings in Commerce Bancshares were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock worth $6,353,000 after purchasing an additional 17,400 shares during the period. Virtu Financial LLC purchased a new position in Commerce Bancshares during the 3rd quarter worth $566,000. Wilmington Savings Fund Society FSB purchased a new position in Commerce Bancshares during the 3rd quarter worth $475,000. Tidal Investments LLC increased its holdings in Commerce Bancshares by 13.5% during the 3rd quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider's stock worth $2,319,000 after purchasing an additional 4,654 shares during the period. Finally, Franklin Resources Inc. purchased a new position in Commerce Bancshares during the 3rd quarter worth $2,861,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now owns 211,929 shares of the company's stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the sale, the chief financial officer now directly owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,842 shares of company stock valued at $3,423,857 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Down 0.7 %

Shares of Commerce Bancshares stock traded down $0.44 during trading on Wednesday, reaching $60.74. The company's stock had a trading volume of 729,866 shares, compared to its average volume of 590,148. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 1-year low of $49.97 and a 1-year high of $72.75. The company has a 50-day simple moving average of $60.70 and a two-hundred day simple moving average of $64.22.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders 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 dividend yield of 1.81%. Commerce Bancshares's payout ratio is 26.63%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CBSH shares. Wells Fargo & Company reduced their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. StockNews.com downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. Finally, Piper Sandler lifted their price target on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.20.

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.