Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 46.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 839 shares of the financial services provider’s stock after acquiring an additional 268 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Commerce Bancshares were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in Commerce Bancshares in the fourth quarter worth $176,000. Norges Bank bought a new position in shares of Commerce Bancshares in the 4th quarter worth about $86,327,000. JPMorgan Chase & Co. lifted its position in shares of Commerce Bancshares by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider’s stock worth $99,364,000 after buying an additional 182,423 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of Commerce Bancshares by 4.5% in the 4th quarter. Financial Counselors Inc. now owns 162,276 shares of the financial services provider’s stock valued at $10,111,000 after buying an additional 6,920 shares during the period. Finally, TIAA Trust National Association grew its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. TIAA Trust National Association now owns 4,757 shares of the financial services provider’s stock valued at $296,000 after buying an additional 227 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $57.64 on Friday. Commerce Bancshares, Inc. has a one year low of $48.49 and a one year high of $72.75. The stock’s fifty day moving average is $63.96 and its 200-day moving average is $64.41. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.91%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 27.43%.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of research reports. Piper Sandler lifted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Finally, StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.17.

Insiders Place Their Bets

In other news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,434 shares of company stock worth $5,248,272 over the last ninety days. Company insiders own 3.10% of the company’s stock.

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.