Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Position Reduced by Waterfront Wealth Inc.

Waterfront Wealth Inc. decreased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,824 shares of the financial services provider’s stock after selling 1,060 shares during the quarter. Commerce Bancshares makes up about 2.1% of Waterfront Wealth Inc.’s holdings, making the stock its 5th largest position. Waterfront Wealth Inc. owned 0.11% of Commerce Bancshares worth $8,588,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Nicholson Wealth Management Group LLC lifted its position in Commerce Bancshares by 65.6% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 20,370 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 8,068 shares during the period. Mattern Capital Management LLC lifted its position in shares of Commerce Bancshares by 1.8% during the 4th quarter. Mattern Capital Management LLC now owns 143,432 shares of the financial services provider’s stock valued at $8,937,000 after acquiring an additional 2,530 shares during the period. First Bank & Trust lifted its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. First Bank & Trust now owns 5,909 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 281 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Commerce Bancshares by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 30,607 shares of the financial services provider’s stock valued at $1,907,000 after acquiring an additional 2,327 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Commerce Bancshares by 15.6% during the 4th quarter. Handelsbanken Fonder AB now owns 34,258 shares of the financial services provider’s stock valued at $2,135,000 after acquiring an additional 4,630 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock worth $5,771,192 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Down 1.5 %

NASDAQ CBSH opened at $64.90 on Friday. Commerce Bancshares, Inc. has a 52 week low of $47.89 and a 52 week high of $72.75. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.17 and a beta of 0.80. The company has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $64.33.

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 analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.93 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given 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 dividend on an annualized basis and a yield of 1.69%. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Analyst Upgrades and Downgrades

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