Stifel Financial Corp Raises Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Stifel Financial Corp grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,210 shares of the financial services provider's stock after acquiring an additional 9,708 shares during the period. Stifel Financial Corp owned 0.10% of Commerce Bancshares worth $8,302,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CBSH. CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at $35,000. V Square Quantitative Management LLC lifted its stake 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. boosted its stake 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 purchasing an additional 268 shares during the period. Finally, Transce3nd LLC purchased a new stake in shares of Commerce Bancshares during the fourth quarter worth approximately $68,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Charles G. Kim sold 13,493 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares of the company's stock, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,842 shares of company stock valued at $3,423,857. Company insiders own 3.10% of the company's stock.

Commerce Bancshares Trading Up 0.9 %

Shares of CBSH traded up $0.55 during midday trading on Thursday, reaching $61.29. The stock had a trading volume of 394,985 shares, compared to its average volume of 589,617. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The company's 50-day moving average is $60.64 and its 200 day moving average is $64.23.

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 (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 the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Analyst Ratings Changes

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

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.