Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,025 shares of the financial services provider’s stock after acquiring an additional 1,525 shares during the period. Louisiana State Employees Retirement System’s holdings in Commerce Bancshares were worth $2,120,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Commerce Bancshares during the third quarter worth about $566,000. Procyon Advisors LLC acquired a new stake in Commerce Bancshares during the 4th quarter worth about $200,000. Centiva Capital LP acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $581,000. PFW Advisors LLC acquired a new stake in Commerce Bancshares during the 4th quarter worth about $1,336,000. Finally, Barclays PLC raised its holdings in Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,944 shares of company stock valued at $5,835,512. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $65.74 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75. The stock’s 50-day moving average is $65.05 and its two-hundred day moving average is $64.26. The stock has a market cap of $8.43 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.67%. Commerce Bancshares’s payout ratio is presently 26.93%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CBSH. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $67.83.

About Commerce Bancshares

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.