Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,107 shares of the financial services provider’s stock after purchasing an additional 290 shares during the period. Gibraltar Capital Management Inc.’s holdings in Commerce Bancshares were worth $381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Commerce Bancshares during the third quarter worth $566,000. Procyon Advisors LLC purchased a new stake in Commerce Bancshares during the 4th quarter worth $200,000. Centiva Capital LP acquired a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $581,000. PFW Advisors LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $1,336,000. Finally, Barclays PLC increased its holdings in shares of Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after acquiring an additional 17,400 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

CBSH stock opened at $64.24 on Wednesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 16.02, a PEG ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The company has a fifty day moving average price of $64.67 and a 200-day moving average price of $64.47.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.71%. Commerce Bancshares’s payout ratio is 27.43%.

Analyst Upgrades and Downgrades

CBSH has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.83.

Insider Activity

In related news, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $69.22, for a total value of $311,490.00. Following the completion of the transaction, the chairman now directly owns 23,725 shares in the company, valued at approximately $1,642,244.50. The trade was a 15.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock valued at $5,771,192 over the last three months. Corporate 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.