North Reef Capital Management LP Has $19.96 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

North Reef Capital Management LP lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320,246 shares of the financial services provider's stock after selling 14,885 shares during the period. Commerce Bancshares accounts for about 0.9% of North Reef Capital Management LP's holdings, making the stock its 23rd biggest position. North Reef Capital Management LP owned approximately 0.25% of Commerce Bancshares worth $19,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the fourth quarter worth $35,000. V Square Quantitative Management LLC boosted its position in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after purchasing an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. Finally, Transce3nd LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $68,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CBSH. 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 research report on Wednesday, April 9th. StockNews.com lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. Piper Sandler upped their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 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. Finally, Morgan Stanley raised shares of 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $63.20.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,719 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the transaction, the senior vice president now directly owns 18,688 shares of the company's stock, valued at approximately $1,257,702.40. This represents a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David W. Kemper sold 3,708 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $66.16, for a total transaction of $245,321.28. Following the completion of the transaction, the chairman now directly owns 1,208,311 shares in the company, valued at $79,941,855.76. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,842 shares of company stock valued at $3,423,857 in the last three months. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Trading Down 1.0 %

CBSH traded down $0.59 on Wednesday, reaching $60.59. The company had a trading volume of 111,832 shares, compared to its average volume of 587,836. The company has a fifty day moving average of $60.76 and a 200-day moving average of $64.25. The company has a market capitalization of $8.12 billion, a P/E ratio of 15.11, a PEG ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a one year low of $49.97 and a one year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (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 analyst estimates of $417.85 million. Research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.63%.

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.