Frank Rimerman Advisors LLC Acquires 186 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Frank Rimerman Advisors LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the financial services provider’s stock after acquiring an additional 186 shares during the period. Frank Rimerman Advisors LLC’s holdings in Commerce Bancshares were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Hilton Capital Management LLC raised its position in shares of Commerce Bancshares by 10.1% in the 4th quarter. Hilton Capital Management LLC now owns 32,852 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,005 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Commerce Bancshares by 11.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 32,909 shares of the financial services provider’s stock worth $2,051,000 after acquiring an additional 3,387 shares in the last quarter. PGGM Investments raised its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. PGGM Investments now owns 54,151 shares of the financial services provider’s stock worth $3,374,000 after acquiring an additional 2,578 shares in the last quarter. Swiss National Bank raised its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Swiss National Bank now owns 252,339 shares of the financial services provider’s stock worth $15,723,000 after acquiring an additional 12,016 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Commerce Bancshares by 3.2% in the 4th quarter. Great Lakes Advisors LLC now owns 27,344 shares of the financial services provider’s stock worth $1,704,000 after acquiring an additional 853 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares in the company, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,434 shares of company stock valued at $5,248,272. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $61.83 on Tuesday. The stock has a 50 day moving average price of $64.47 and a two-hundred day moving average price of $64.48. The firm has a market capitalization of $8.28 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 52 week low of $47.89 and a 52 week high of $72.75.

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

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CBSH. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley decreased their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $68.17.

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.