Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 391,932 shares of the financial services provider’s stock after acquiring an additional 29,032 shares during the period. Los Angeles Capital Management LLC owned approximately 0.31% of Commerce Bancshares worth $24,421,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CBSH. Allworth Financial LP boosted its position 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 worth $34,000 after acquiring an additional 192 shares during the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $35,000. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter valued at approximately $39,000. True Wealth Design LLC acquired a new position in Commerce Bancshares during the third quarter valued at approximately $47,000. Finally, V Square Quantitative Management LLC lifted its position in Commerce Bancshares by 84.0% during the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after buying an additional 361 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.2 %

Shares of NASDAQ:CBSH opened at $64.24 on Wednesday. The company has a fifty day simple moving average of $64.67 and a 200 day simple moving average of $64.47. The firm has a market cap of $8.24 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business 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 represents a $1.10 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

Insider Buying and Selling

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,054 shares of company stock worth $5,771,192. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.