Waterfront Wealth Inc. Purchases 6,229 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Waterfront Wealth Inc. raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 143,628 shares of the financial services provider’s stock after buying an additional 6,229 shares during the quarter. Commerce Bancshares comprises about 2.3% of Waterfront Wealth Inc.’s holdings, making the stock its 4th largest position. Waterfront Wealth Inc.’s holdings in Commerce Bancshares were worth $7,671,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CBSH. Raymond James & Associates increased its stake in Commerce Bancshares by 8.6% in the 1st quarter. Raymond James & Associates now owns 58,372 shares of the financial services provider’s stock valued at $4,179,000 after buying an additional 4,611 shares during the period. HighTower Advisors LLC boosted its position in shares of Commerce Bancshares by 14.7% during the 1st quarter. HighTower Advisors LLC now owns 9,253 shares of the financial services provider’s stock worth $659,000 after purchasing an additional 1,188 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Commerce Bancshares by 27.2% during the 1st quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock worth $1,814,000 after purchasing an additional 5,417 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Commerce Bancshares by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock worth $4,414,000 after purchasing an additional 4,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Commerce Bancshares by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock worth $79,527,000 after purchasing an additional 12,655 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CBSH shares. Piper Sandler boosted their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America initiated coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price on the stock. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Insider Buying and Selling

In related news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas D. Neff sold 614 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,321 shares of company stock valued at $752,387. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Up 2.0 %

Shares of NASDAQ CBSH traded up $1.06 on Wednesday, reaching $53.07. 810,414 shares of the company traded hands, compared to its average volume of 489,016. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The company has a 50 day moving average of $51.97 and a 200 day moving average of $50.92. The stock has a market capitalization of $6.89 billion, a PE ratio of 14.62 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.24 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.04%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 29.75%.

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.