Northern Trust Corp Purchases 310,443 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Northern Trust Corp raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 31.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,286,483 shares of the financial services provider's stock after acquiring an additional 310,443 shares during the quarter. Northern Trust Corp owned 1.00% of Commerce Bancshares worth $80,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares in the last quarter. American Century Companies Inc. lifted its position in Commerce Bancshares by 25.5% during the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after purchasing an additional 745,661 shares during the period. Geode Capital Management LLC grew its holdings in Commerce Bancshares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock worth $155,756,000 after acquiring an additional 87,723 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Commerce Bancshares by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock worth $141,584,000 after acquiring an additional 227,052 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Commerce Bancshares by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock valued at $135,533,000 after purchasing an additional 38,210 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares of the company's stock, valued at $192,786. This represents a 33.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CBSH shares. 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 report on Thursday, April 17th. Piper Sandler lifted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. StockNews.com lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Stock Up 0.2 %

CBSH stock traded up $0.13 during mid-day trading on Friday, hitting $63.43. The company had a trading volume of 428,248 shares, compared to its average volume of 588,746. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The company has a 50-day moving average price of $60.47 and a 200 day moving average price of $64.30. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) 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 analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is 26.63%.

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.