Mountain Pacific Investment Advisers Inc. ID Has $15.09 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mountain Pacific Investment Advisers Inc. ID trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,565 shares of the financial services provider’s stock after selling 10,081 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID owned 0.22% of Commerce Bancshares worth $15,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in Commerce Bancshares during the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV bought a new stake in Commerce Bancshares during the fourth quarter worth $35,000. Adirondack Trust Co. bought a new stake in Commerce Bancshares during the third quarter worth $44,000. Exchange Traded Concepts LLC bought a new stake in Commerce Bancshares during the fourth quarter worth $55,000. Finally, Signaturefd LLC grew its holdings in Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after buying an additional 213 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods upped their price objective 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. Bank of America started coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price objective for the company. Piper Sandler upped their price objective 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, Morgan Stanley upped their price objective 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. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.00.

Commerce Bancshares Stock Performance

CBSH stock opened at $55.41 on Friday. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 15.45 and a beta of 0.79. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The stock has a fifty day moving average of $52.48 and a 200-day moving average of $51.28.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The company 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 firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts predict that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.95%. 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 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 transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 614 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $403,909.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,661 shares of company stock worth $606,528. 3.20% of the stock is owned by company insiders.

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.