Wedge Capital Management L L P NC Purchases 4,534 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Wedge Capital Management L L P NC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,193 shares of the financial services provider’s stock after purchasing an additional 4,534 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Commerce Bancshares were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cetera Trust Company N.A acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $168,000. Handelsbanken Fonder AB increased its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 22,328 shares of the financial services provider’s stock valued at $1,193,000 after buying an additional 1,063 shares during the period. Signaturefd LLC increased its stake in shares of Commerce Bancshares by 14.4% in the fourth 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 during the period. Cooke & Bieler LP increased its stake in shares of Commerce Bancshares by 32.4% in the fourth quarter. Cooke & Bieler LP now owns 972,255 shares of the financial services provider’s stock valued at $51,928,000 after buying an additional 237,703 shares during the period. Finally, Eukles Asset Management increased its stake in shares of Commerce Bancshares by 4.0% in the fourth quarter. Eukles Asset Management now owns 8,986 shares of the financial services provider’s stock valued at $480,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CBSH shares. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Morgan Stanley raised their target price on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Piper Sandler raised their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Bank of America assumed coverage on Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price for the company. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $55.00.

Insiders Place Their Bets

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

Commerce Bancshares Trading Down 0.9 %

Shares of Commerce Bancshares stock opened at $55.44 on Friday. The business’s fifty day simple moving average is $52.41 and its 200 day simple moving average is $51.21. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $56.75. The firm has a market capitalization of $7.20 billion, a P/E ratio of 15.46 and a beta of 0.79.

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

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

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.