Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Oak Thistle LLC

Oak Thistle LLC grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,624 shares of the financial services provider’s stock after buying an additional 2,681 shares during the period. Oak Thistle LLC’s holdings in Commerce Bancshares were worth $1,223,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Commerce Bancshares by 10.8% in the 2nd quarter. Victory Capital Management Inc. now owns 103,649 shares of the financial services provider’s stock valued at $5,782,000 after purchasing an additional 10,076 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $697,000. Daiwa Securities Group Inc. raised its position in shares of Commerce Bancshares by 11.7% in the second quarter. Daiwa Securities Group Inc. now owns 6,915 shares of the financial services provider’s stock valued at $386,000 after buying an additional 723 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Commerce Bancshares during the second quarter worth approximately $489,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,398 shares of company stock valued at $2,504,665 over the last three months. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $66.75.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $63.46 on Wednesday. The stock has a 50-day simple moving average of $67.47 and a 200-day simple moving average of $63.22. The stock has a market capitalization of $8.14 billion, a P/E ratio of 16.53, a PEG ratio of 2.92 and a beta of 0.79. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

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

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.