XML Financial LLC Purchases 460 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

XML Financial LLC lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,928 shares of the financial services provider’s stock after buying an additional 460 shares during the period. XML Financial LLC’s holdings in Commerce Bancshares were worth $244,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Commerce Bancshares by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider’s stock worth $17,512,000 after purchasing an additional 9,362 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Commerce Bancshares during the 4th quarter worth about $842,000. Vanguard Group Inc. increased its holdings in 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. PNC Financial Services Group Inc. increased its holdings in Commerce Bancshares by 5.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 232,767 shares of the financial services provider’s stock worth $14,504,000 after purchasing an additional 11,227 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Commerce Bancshares by 8.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 391,932 shares of the financial services provider’s stock worth $24,421,000 after purchasing an additional 29,032 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CBSH has been the subject of a number of research reports. 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 report on Thursday, April 17th. Bank of America increased their target price on Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Piper Sandler increased their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $65.00.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $61.47 on Wednesday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 4.06 and a beta of 0.60. The business has a 50-day moving average of $62.35 and a 200-day moving average of $62.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. Commerce Bancshares, Inc. has a fifty-two week low of $50.90 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The company had revenue of $428.05 million during the quarter, compared to analysts’ expectations of $417.85 million. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.79%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

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.