Tower Research Capital LLC TRC Acquires 7,411 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Tower Research Capital LLC TRC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 102.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,615 shares of the financial services provider's stock after purchasing an additional 7,411 shares during the quarter. Tower Research Capital LLC TRC's holdings in Commerce Bancshares were worth $911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $86,327,000. American Century Companies Inc. increased its position in Commerce Bancshares by 25.5% in 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 buying an additional 745,661 shares during the last quarter. Vanguard Group Inc. increased its position in Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after buying an additional 642,401 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $141,584,000 after buying an additional 227,052 shares during the period. Finally, Boston Trust Walden Corp raised its stake in Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider's stock valued at $91,524,000 after acquiring an additional 219,826 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other news, VP David L. Orf sold 1,036 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Kemper sold 26,042 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the transaction, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,842 shares of company stock worth $3,423,857. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Up 0.4 %

NASDAQ:CBSH traded up $0.25 during trading hours on Thursday, hitting $60.99. 63,603 shares of the company's stock traded hands, compared to its average volume of 588,083. The firm has a market cap of $8.18 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.13 and a beta of 0.71. The business's fifty day simple moving average is $60.70 and its two-hundred day simple moving average is $64.22. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly 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. The firm 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%. On average, analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders 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 1.80%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CBSH shares. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. StockNews.com lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. Piper Sandler increased 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. Wells Fargo & Company reduced their price target 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, Keefe, Bruyette & Woods dropped their price objective 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. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.20.

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.