Thomas Story & Son LLC Grows Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Thomas Story & Son LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,637 shares of the financial services provider’s stock after acquiring an additional 315 shares during the period. Thomas Story & Son LLC’s holdings in Commerce Bancshares were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at $35,000. Clarity Asset Management Inc. purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at $43,000. Exchange Traded Concepts LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at $55,000. Finally, Signaturefd LLC lifted its holdings in shares of Commerce Bancshares by 14.4% during the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Down 0.0 %

CBSH stock traded down $0.01 during trading on Friday, reaching $52.95. The stock had a trading volume of 336,528 shares, compared to its average volume of 441,029. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $57.48. The company has a market capitalization of $6.86 billion, a P/E ratio of 14.77, a PEG ratio of 1.74 and a beta of 0.76. The firm has a fifty day moving average price of $54.80 and a 200 day moving average price of $53.29.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The firm had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. During the same quarter in the previous year, the business posted $0.90 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.54 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.04%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Insider Activity

In other news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the sale, the chief executive officer now owns 198,387 shares in the company, valued at approximately $11,262,429.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a report on Wednesday, April 17th. Finally, Piper Sandler lifted their target price 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 given a buy rating to the company. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $55.29.

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.