Edgestream Partners L.P. Raises Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Edgestream Partners L.P. raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 18.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,501 shares of the financial services provider’s stock after purchasing an additional 17,301 shares during the period. Edgestream Partners L.P. owned about 0.09% of Commerce Bancshares worth $6,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CBSH. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at approximately $35,000. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter worth $39,000. True Wealth Design LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $47,000. V Square Quantitative Management LLC grew its position in shares of Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $67.69, for a total transaction of $67,690.00. Following the completion of the transaction, the senior vice president now directly owns 21,265 shares in the company, valued at approximately $1,439,427.85. This represents a 4.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction dated 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 approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,516 shares of company stock worth $5,457,086 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $61.96 on Friday. The stock’s fifty day moving average is $64.76 and its two-hundred day moving average is $64.58. The firm has a market capitalization of $8.30 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 in the previous year, the company posted $0.84 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared 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. 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 1.78%. Commerce Bancshares’s dividend payout ratio is 27.43%.

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.