Handelsbanken Fonder AB Acquires 1,063 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Handelsbanken Fonder AB lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,328 shares of the financial services provider’s stock after acquiring an additional 1,063 shares during the period. Handelsbanken Fonder AB’s holdings in Commerce Bancshares were worth $1,193,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CBSH. Signaturefd LLC raised its stake in shares of Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 213 shares during the period. Cooke & Bieler LP boosted its holdings in Commerce Bancshares by 32.4% during the fourth quarter. Cooke & Bieler LP now owns 972,255 shares of the financial services provider’s stock worth $51,928,000 after purchasing an additional 237,703 shares during the last quarter. Eukles Asset Management grew its position in Commerce Bancshares by 4.0% in the fourth quarter. Eukles Asset Management now owns 8,986 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 345 shares in the last quarter. Xponance Inc. increased its stake in Commerce Bancshares by 6.8% in the 4th quarter. Xponance Inc. now owns 14,529 shares of the financial services provider’s stock valued at $776,000 after buying an additional 926 shares during the last quarter. Finally, Waterfront Wealth Inc. lifted its position in Commerce Bancshares by 4.5% during the 4th quarter. Waterfront Wealth Inc. now owns 143,628 shares of the financial services provider’s stock worth $7,671,000 after buying an additional 6,229 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBSH. Piper Sandler raised their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Morgan Stanley upped their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Bank of America assumed coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price on the stock. Finally, Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David W. Kemper sold 2,870 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $50.81, for a total transaction of $145,824.70. Following the transaction, the director now directly owns 1,181,994 shares in the company, valued at $60,057,115.14. The disclosure for this sale can be found here. Insiders sold 9,876 shares of company stock worth $510,441 in the last ninety days. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $55.41 on Monday. The company has a market cap of $7.20 billion, a P/E ratio of 15.45 and a beta of 0.79. The firm’s fifty day moving average price is $52.48 and its two-hundred day moving average price is $51.30. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. Commerce Bancshares’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 annualized dividend and a yield of 1.95%. Commerce Bancshares’s payout ratio is currently 30.12%.

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.