Inceptionr LLC Purchases 6,393 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Inceptionr LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 29.1% during the 4th quarter, Holdings Channel reports. The fund owned 28,389 shares of the financial services provider’s stock after buying an additional 6,393 shares during the period. Inceptionr LLC’s holdings in Commerce Bancshares were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after acquiring an additional 163,782 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after acquiring an additional 219,826 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Commerce Bancshares by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,055,430 shares of the financial services provider’s stock worth $65,764,000 after acquiring an additional 43,928 shares in the last quarter. NFJ Investment Group LLC lifted its holdings in shares of Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings in shares of Commerce Bancshares by 4.8% in the fourth quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock valued at $30,244,000 after purchasing an additional 21,922 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,516 shares of company stock valued at $5,457,086 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Commerce Bancshares Trading Up 0.0 %

Shares of CBSH opened at $62.76 on Thursday. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.13 and a beta of 0.78. The stock has a 50 day moving average of $64.77 and a 200 day moving average of $64.59. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company 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 $0.275 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 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.