Plancorp LLC Purchases 2,921 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Plancorp LLC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,443 shares of the financial services provider’s stock after acquiring an additional 2,921 shares during the quarter. Plancorp LLC’s holdings in Commerce Bancshares were worth $3,455,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of 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 valued at $142,951,000 after acquiring an additional 163,782 shares during the period. Boston Trust Walden Corp raised its stake 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 valued at $91,524,000 after purchasing an additional 219,826 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $65,764,000 after purchasing an additional 43,928 shares in the last quarter. Cooke & Bieler LP raised its stake in Commerce Bancshares by 0.8% in the fourth quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock valued at $56,027,000 after purchasing an additional 7,280 shares in the last quarter. Finally, NFJ Investment Group LLC raised its stake in 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. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Performance

CBSH stock opened at $61.24 on Friday. The company has a market capitalization of $8.21 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a one year low of $48.42 and a one year high of $72.75. The company’s 50 day moving average price is $64.42 and its two-hundred day moving average price is $64.41.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued 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 1.80%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CBSH shares. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler raised their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.17.

Insider Transactions at Commerce Bancshares

In other news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the sale, the executive vice president now owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,434 shares of company stock worth $5,248,272. Insiders own 3.20% of the company’s stock.

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.