Concurrent Investment Advisors LLC Acquires 2,327 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Concurrent Investment Advisors LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,607 shares of the financial services provider’s stock after purchasing an additional 2,327 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Commerce Bancshares were worth $1,907,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CBSH. Los Angeles Capital Management LLC raised its position in Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Boston Trust Walden Corp raised its position in Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares during the last quarter. Geode Capital Management LLC raised its position in Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. NFJ Investment Group LLC raised its position in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Commerce Bancshares in the 3rd quarter valued at $6,087,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction dated 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 directly owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the transaction, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. The trade was a 2.20 % 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. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Down 1.4 %

Shares of Commerce Bancshares stock opened at $64.00 on Friday. Commerce Bancshares, Inc. has a 12 month low of $47.89 and a 12 month high of $72.75. The business has a fifty day simple moving average of $64.79 and a 200 day simple moving average of $64.36. The stock has a market cap of $8.21 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.17 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts expect that Commerce Bancshares, Inc. will post 3.93 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid 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 dividend on an annualized basis and a dividend yield of 1.72%. Commerce Bancshares’s payout ratio is 27.43%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. 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. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.83.

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.