UMB Bank n.a. Has $16.28 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

UMB Bank n.a. grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,234 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the period. UMB Bank n.a. owned about 0.20% of Commerce Bancshares worth $16,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealth Alliance Advisory Group LLC grew its position in Commerce Bancshares by 5.0% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 6,661 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 317 shares during the last quarter. HB Wealth Management LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $206,000. Wedge Capital Management L L P NC boosted its position in shares of Commerce Bancshares by 3.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 32,409 shares of the financial services provider’s stock valued at $2,019,000 after acquiring an additional 984 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Commerce Bancshares by 5.3% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 187 shares in the last quarter. Finally, Procyon Advisors LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $200,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 1.7 %

Shares of CBSH stock opened at $64.85 on Monday. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The company has a market capitalization of $8.32 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.38 and a beta of 0.79. The firm has a 50-day moving average price of $67.18 and a 200 day moving average price of $63.46.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.92 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.75.

Insiders Place Their Bets

In related news, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin G. Barth sold 1,582 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,398 shares of company stock valued at $2,504,665. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Company 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.