ProShare Advisors LLC Purchases 68,224 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

ProShare Advisors LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 574,303 shares of the financial services provider's stock after purchasing an additional 68,224 shares during the quarter. ProShare Advisors LLC owned 0.45% of Commerce Bancshares worth $35,785,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after acquiring an additional 17,400 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Commerce Bancshares during the 3rd quarter valued at $2,861,000. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after acquiring an additional 183 shares in the last quarter. Outlook Wealth Advisors LLC boosted its holdings in shares of Commerce Bancshares by 14.2% during the 4th quarter. Outlook Wealth Advisors LLC now owns 7,201 shares of the financial services provider's stock valued at $449,000 after acquiring an additional 898 shares in the last quarter. Finally, SignalPoint Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 9.2% during the 4th quarter. SignalPoint Asset Management LLC now owns 4,734 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

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

Commerce Bancshares Trading Down 1.1%

Shares of Commerce Bancshares stock traded down $0.71 during trading on Wednesday, hitting $64.29. The stock had a trading volume of 101,407 shares, compared to its average volume of 588,688. Commerce Bancshares, Inc. has a 12 month low of $49.97 and a 12 month high of $72.75. The business's 50-day moving average is $61.12 and its 200 day moving average is $64.46. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio is 26.63%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company's stock.

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.