Mariner LLC Grows Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mariner LLC raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 100,490 shares of the financial services provider’s stock after purchasing an additional 4,633 shares during the period. Mariner LLC’s holdings in Commerce Bancshares were worth $6,262,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at $86,327,000. American Century Companies Inc. lifted its position in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock valued at $228,991,000 after acquiring an additional 745,661 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after acquiring an additional 642,401 shares during the period. Boston Trust Walden Corp grew its position in shares of Commerce Bancshares by 17.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after purchasing an additional 219,826 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Commerce Bancshares by 12.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider’s stock valued at $99,364,000 after purchasing an additional 182,423 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CBSH. Piper Sandler increased their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Thursday. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.20.

Commerce Bancshares Trading Down 0.2 %

Shares of NASDAQ CBSH opened at $59.90 on Friday. Commerce Bancshares, Inc. has a 12-month low of $49.97 and a 12-month high of $72.75. The firm’s 50-day moving average price is $61.53 and its 200-day moving average price is $64.14. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.275 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.84%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Insider Buying and Selling at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the sale, the senior vice president now directly owns 18,688 shares in the company, valued at $1,257,702.40. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 over the last quarter. Insiders own 3.10% 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.