Amalgamated Bank Buys 1,307 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Amalgamated Bank boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,644 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the quarter. Amalgamated Bank owned about 0.06% of Commerce Bancshares worth $3,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Advisors Inc. OK increased its stake in Commerce Bancshares by 5.0% during the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 210 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 213 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Commerce Bancshares by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after acquiring an additional 250 shares in the last quarter. Delta Financial Group Inc. boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Delta Financial Group Inc. now owns 5,250 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 250 shares during the last quarter. Finally, Heartland Bank & Trust Co increased its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Heartland Bank & Trust Co now owns 5,334 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 254 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $56.41 on Thursday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 15.73 and a beta of 0.76. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $57.00. The firm’s 50-day simple moving average is $53.12 and its two-hundred day simple moving average is $51.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. During the same quarter last year, the business posted $0.90 EPS. Commerce Bancshares’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Commerce Bancshares, Inc. will post 3.48 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.91%. Commerce Bancshares’s payout ratio is 30.12%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total value of $30,853.50. Following the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several analyst reports. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Morgan Stanley upped their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, April 17th. Bank of America started coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Piper Sandler increased their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.