Mountain Pacific Investment Advisers LLC Has $2.09 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mountain Pacific Investment Advisers LLC increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,531 shares of the financial services provider’s stock after buying an additional 1,016 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Commerce Bancshares were worth $2,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP grew its stake in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter worth $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares during the third quarter worth $47,000. Finally, Farther Finance Advisors LLC lifted its stake in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBSH. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.75.

Commerce Bancshares Price Performance

CBSH opened at $64.85 on Tuesday. The company has a market capitalization of $8.32 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The business has a fifty day simple moving average of $67.04 and a 200 day simple moving average of $63.53. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.67%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $4,417,723.86. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,398 shares of company stock valued at $651,265. 3.10% of the stock is owned by company insiders.

Commerce Bancshares 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.