Meyer Handelman Co. Buys 1,490 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Meyer Handelman Co. grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,299 shares of the financial services provider’s stock after purchasing an additional 1,490 shares during the quarter. Meyer Handelman Co.’s holdings in Commerce Bancshares were worth $1,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CBSH. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP boosted its holdings in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the third quarter worth about $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Commerce Bancshares by 48.2% during the 3rd 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 during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

CBSH opened at $63.46 on Wednesday. The company has a market capitalization of $8.14 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.92 and a beta of 0.79. The firm’s fifty day moving average price is $67.47 and its two-hundred day moving average price is $63.22. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.70%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Analyst Ratings Changes

A number of research firms have issued reports on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised 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 report on Wednesday, December 4th. Finally, Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average target price of $66.75.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares in the company, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,398 shares of company stock valued at $2,504,665. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Company 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.