American Century Companies Inc. Buys 202,758 Shares of Commerce Bancshares, Inc. $CBSH

American Century Companies Inc. increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,972,884 shares of the financial services provider’s stock after purchasing an additional 202,758 shares during the period. American Century Companies Inc.’s holdings in Commerce Bancshares were worth $237,420,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the period. Quent Capital LLC bought a new position in Commerce Bancshares in the third quarter valued at about $31,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares in the second quarter worth about $33,000. Rothschild Investment LLC raised its holdings in Commerce Bancshares by 3,820.0% during the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 573 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Commerce Bancshares during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 4.4%

NASDAQ:CBSH opened at $50.99 on Friday. Commerce Bancshares, Inc. has a 1 year low of $48.69 and a 1 year high of $63.30. The stock has a 50-day moving average price of $53.45 and a two-hundred day moving average price of $54.03. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.56 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.The business had revenue of $449.36 million for the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter in the previous year, the business posted $1.01 EPS. Commerce Bancshares’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. Commerce Bancshares’s payout ratio is presently 26.25%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBSH shares. Piper Sandler set a $62.00 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Monday, January 26th. Zacks Research cut shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. Finally, TD Cowen cut their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $61.75.

Insider Activity

In related news, SVP David L. Roller sold 2,092 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $53.32, for a total value of $111,545.44. Following the sale, the senior vice president directly owned 28,933 shares of the company’s stock, valued at approximately $1,542,707.56. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 23,397 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at approximately $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,667 shares of company stock worth $1,493,323 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.