Beck Mack & Oliver LLC Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Beck Mack & Oliver LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,297 shares of the financial services provider’s stock after purchasing an additional 679 shares during the period. Beck Mack & Oliver LLC’s holdings in Commerce Bancshares were worth $891,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Commerce Bancshares by 5.1% in the 4th 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 last quarter. American Century Companies Inc. increased 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 worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC raised its stake in Commerce Bancshares by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider’s stock valued at $155,756,000 after purchasing an additional 87,723 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider’s stock valued at $141,584,000 after purchasing an additional 227,052 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Commerce Bancshares by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider’s stock valued at $135,533,000 after purchasing an additional 38,210 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,434 shares of company stock valued at $5,248,272. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $58.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods cut their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Piper Sandler lifted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.20.

Commerce Bancshares Stock Down 0.2 %

Shares of NASDAQ CBSH opened at $59.90 on Friday. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.13 and a beta of 0.71. The firm’s fifty day moving average is $61.53 and its 200 day moving average is $64.09. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

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.