Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,022 shares of the financial services provider’s stock after purchasing an additional 334 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Commerce Bancshares were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CBSH. Boston Trust Walden Corp increased its position in Commerce Bancshares by 147.4% in the 3rd quarter. Boston Trust Walden Corp now owns 1,025,863 shares of the financial services provider’s stock valued at $49,221,000 after acquiring an additional 611,172 shares during the period. Cooke & Bieler LP boosted its holdings in Commerce Bancshares by 32.4% in the 4th quarter. Cooke & Bieler LP now owns 972,255 shares of the financial services provider’s stock valued at $51,928,000 after purchasing an additional 237,703 shares in the last quarter. Walleye Capital LLC boosted its holdings in Commerce Bancshares by 147.7% in the 3rd quarter. Walleye Capital LLC now owns 296,634 shares of the financial services provider’s stock valued at $14,232,000 after purchasing an additional 176,897 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Commerce Bancshares by 12.4% in the 3rd quarter. Schroder Investment Management Group now owns 618,515 shares of the financial services provider’s stock valued at $29,676,000 after purchasing an additional 68,256 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Commerce Bancshares by 382.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,192 shares of the financial services provider’s stock valued at $2,552,000 after purchasing an additional 42,167 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CBSH. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Piper Sandler boosted their price target on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target 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. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average target price of $55.00.

Insider Buying and Selling

In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the completion of the transaction, the director now directly owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Commerce Bancshares news, SVP David L. Roller sold 1,392 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $50.62, for a total value of $70,463.04. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,566,638.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The disclosure for this sale can be found here. In the last three months, insiders sold 11,661 shares of company stock valued at $606,528. Company insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

CBSH traded up $0.82 during trading on Wednesday, hitting $55.92. The company’s stock had a trading volume of 404,811 shares, compared to its average volume of 490,049. The firm’s 50 day moving average price is $52.33 and its 200-day moving average price is $51.18. The stock has a market cap of $7.26 billion, a PE ratio of 15.60 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.93%. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

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.