Financial Advocates Investment Management Has $1.01 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Financial Advocates Investment Management raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,250 shares of the financial services provider’s stock after buying an additional 346 shares during the quarter. Financial Advocates Investment Management’s holdings in Commerce Bancshares were worth $1,013,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its stake in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after buying an additional 358,066 shares during the period. Boston Trust Walden Corp raised its holdings in Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after acquiring an additional 219,826 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Commerce Bancshares by 7.3% in the 3rd 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 during the period. NFJ Investment Group LLC grew its holdings in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $6,087,000. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the sale, the senior vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,339 shares of company stock valued at $4,985,251 over the last ninety days. 3.20% of the stock is owned by insiders.

Commerce Bancshares Stock Down 1.4 %

NASDAQ:CBSH opened at $67.65 on Friday. The firm has a market cap of $8.67 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.80. The company’s 50-day moving average price is $65.37 and its two-hundred day moving average price is $64.19. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its 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. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the business earned $0.84 EPS. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.9 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. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.63%. 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.