Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604 shares of the financial services provider’s stock after acquiring an additional 264 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Commerce Bancshares were worth $139,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in Commerce Bancshares in the 4th quarter valued at approximately $35,000. Adirondack Trust Co. purchased a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $44,000. Exchange Traded Concepts LLC purchased a new stake in Commerce Bancshares in the 4th quarter valued at approximately $55,000. Finally, Signaturefd LLC lifted its stake in Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CBSH. Morgan Stanley upped their target price on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Piper Sandler upped their target price on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, Bank of America began coverage on Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 price target on the stock. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.00.

Commerce Bancshares Stock Up 1.5 %

Shares of Commerce Bancshares stock opened at $55.92 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The firm has a market cap of $7.26 billion, a PE ratio of 15.60 and a beta of 0.79. The business’s fifty day moving average is $52.33 and its two-hundred day moving average is $51.18.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.93%. Commerce Bancshares’s payout ratio is 30.12%.

Insider Transactions at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas D. Neff sold 614 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at $403,909.50. The disclosure for this sale can be found here. Insiders sold a total of 11,661 shares of company stock worth $606,528 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.