Marshall Investment Management LLC Acquires Shares of 593 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Marshall Investment Management LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 593 shares of the financial services provider’s stock, valued at approximately $35,000.

Several other hedge funds also recently added to or reduced their stakes in CBSH. Blue Trust Inc. raised its position in Commerce Bancshares by 12,340.0% in the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,234 shares during the period. Raymond James & Associates grew its stake in shares of Commerce Bancshares by 5.5% during the third quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after acquiring an additional 7,512 shares in the last quarter. Allworth Financial LP grew its stake in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC grew its stake in shares of Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 217 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Commerce Bancshares by 81.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 6,349 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBSH. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler lifted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.83.

Commerce Bancshares Stock Down 1.4 %

Shares of NASDAQ CBSH opened at $64.00 on Friday. The firm’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $64.39. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The stock has a market capitalization of $8.21 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.13 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter last year, the company posted $0.84 earnings per share. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.72%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the transaction, the executive vice president now owns 45,511 shares of the company’s stock, valued at $3,006,456.66. This trade represents a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction that occurred on 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 directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock valued at $5,771,192 over the last quarter. Insiders own 3.20% 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.