Gibraltar Capital Management Inc. Acquires 277 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Gibraltar Capital Management Inc. boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,817 shares of the financial services provider’s stock after purchasing an additional 277 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in Commerce Bancshares were worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBSH. BKM Wealth Management LLC acquired a new position in Commerce Bancshares during the fourth quarter worth about $29,000. Creative Financial Designs Inc. ADV acquired a new position in Commerce Bancshares during the fourth quarter worth about $35,000. Adirondack Trust Co. acquired a new position in Commerce Bancshares during the third quarter worth about $44,000. Exchange Traded Concepts LLC acquired a new position in Commerce Bancshares during the fourth quarter worth about $55,000. Finally, Signaturefd LLC increased its stake in shares of Commerce Bancshares by 14.4% in the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 1,392 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $50.62, for a total value of $70,463.04. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,566,638.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP David L. Roller sold 1,392 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $50.62, for a total value of $70,463.04. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,566,638.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 614 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $403,909.50. The disclosure for this sale can be found here. Insiders sold a total of 9,876 shares of company stock valued at $510,441 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH stock traded down $0.11 during mid-day trading on Tuesday, hitting $54.68. The company’s stock had a trading volume of 590,892 shares, compared to its average volume of 485,894. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $56.75. The business has a 50-day moving average price of $52.55 and a 200 day moving average price of $51.35. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 15.25 and a beta of 0.79.

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

Commerce Bancshares Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Analysts Set New Price Targets

CBSH has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler increased their price target on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, April 17th. Bank of America assumed coverage on Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.