Jag Capital Management LLC Buys 527 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Jag Capital Management LLC increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,320 shares of the financial services provider’s stock after purchasing an additional 527 shares during the period. Jag Capital Management LLC’s holdings in Commerce Bancshares were worth $643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atria Wealth Solutions Inc. boosted its position in shares of Commerce Bancshares by 1.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 166 shares during the last quarter. Apriem Advisors boosted its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 182 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 183 shares during the last quarter. Verde Capital Management boosted its position in shares of Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David W. Kemper sold 4,500 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the transaction, the chairman now directly owns 23,725 shares in the company, valued at $1,642,244.50. This trade represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,016 shares of company stock valued at $5,768,576. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Commerce Bancshares Price Performance

CBSH stock opened at $64.82 on Tuesday. The company has a market capitalization of $8.68 billion, a PE ratio of 16.16, a P/E/G 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. The firm’s 50-day moving average is $64.78 and its 200 day moving average is $64.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This is an increase 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 dividend on an annualized basis and a yield of 1.70%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.43%.

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.