Commerce Bancshares, Inc. $CBSH Shares Acquired by Cooke & Bieler LP

Cooke & Bieler LP boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 995,394 shares of the financial services provider’s stock after acquiring an additional 58,530 shares during the quarter. Cooke & Bieler LP’s holdings in Commerce Bancshares were worth $52,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CBSH. Daytona Street Capital LLC acquired a new position in Commerce Bancshares during the 4th quarter worth approximately $25,000. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Commerce Bancshares by 85.4% in the first 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 in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $34,000. Finally, Rothschild Investment LLC grew its holdings in Commerce Bancshares by 3,820.0% during the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 573 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Margaret M. Rowe sold 861 shares of Commerce Bancshares stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.69, for a total transaction of $44,505.09. Following the completion of the sale, the senior vice president owned 5,742 shares in the company, valued at approximately $296,803.98. This trade represents a 13.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kim L. Jakovich sold 949 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the sale, the senior vice president directly owned 12,741 shares in the company, valued at $655,524.45. This represents a 6.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CBSH shares. Piper Sandler reissued a “neutral” rating and issued a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods raised their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Hovde Group decreased their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Morgan Stanley lowered their target price on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.30.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $52.37 on Tuesday. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $63.19. The stock has a fifty day simple moving average of $50.37 and a 200-day simple moving average of $51.76. The company has a market capitalization of $7.63 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million during the quarter, compared to the consensus estimate of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, June 5th. Commerce Bancshares’s dividend payout ratio is 26.38%.

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.