Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,815 shares of the financial services provider’s stock after acquiring an additional 987 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Commerce Bancshares were worth $1,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBSH. Allworth Financial LP lifted its position in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares during the last quarter. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at $35,000. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares during the 3rd quarter worth $39,000. True Wealth Design LLC purchased a new stake in Commerce Bancshares in the third quarter valued at $47,000. Finally, V Square Quantitative Management LLC boosted its stake in Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 361 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.2 %

Commerce Bancshares stock opened at $64.24 on Wednesday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.13 and a beta of 0.80. The stock has a 50 day moving average of $64.67 and a two-hundred day moving average of $64.47. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.84 earnings per share. Equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.71%. Commerce Bancshares’s payout ratio is presently 27.43%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now owns 21,265 shares of the company’s stock, valued at approximately $1,439,427.85. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total transaction of $311,490.00. Following the transaction, the chairman now directly owns 23,725 shares in the company, valued at approximately $1,642,244.50. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,054 shares of company stock worth $5,771,192 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CBSH. Wells Fargo & Company lifted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Piper Sandler raised their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.83.

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.