Cognios Beta Neutral Large Cap Fund LP Acquires 334 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cognios Beta Neutral Large Cap Fund LP increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,022 shares of the financial services provider’s stock after buying an additional 334 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Commerce Bancshares were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BKM Wealth Management LLC acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $35,000. Adirondack Trust Co. acquired a new position in Commerce Bancshares during the third quarter valued at approximately $44,000. Exchange Traded Concepts LLC acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $55,000. Finally, Signaturefd LLC grew its holdings in Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 213 shares during the period. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in 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 target for the company in a report on Wednesday, April 17th. Bank of America assumed coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price target for the company. Morgan Stanley upped their price target on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Piper Sandler upped their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the sale, the director now directly owns 33,567 shares in the company, valued at $1,806,911.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,661 shares of company stock valued at $606,528. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Up 1.5 %

CBSH traded up $0.82 during trading hours on Wednesday, hitting $55.92. 404,811 shares of the company’s stock were exchanged, compared to its average volume of 490,049. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $56.75. The stock’s 50-day moving average is $52.33 and its two-hundred day moving average is $51.18. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 15.60 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The business had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.93%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.12%.

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.