Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,661 shares of the financial services provider’s stock after purchasing an additional 317 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Commerce Bancshares were worth $415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CBSH. Los Angeles Capital Management LLC increased its holdings in Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Commerce Bancshares by 168.3% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after acquiring an additional 214,582 shares during the last quarter. Geode Capital Management LLC lifted its stake in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Finally, NFJ Investment Group LLC boosted its holdings in Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Up 1.7 %

Commerce Bancshares stock opened at $64.85 on Friday. The company’s 50-day moving average price is $67.18 and its two-hundred day moving average price is $63.41. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.38 and a beta of 0.79. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Research analysts expect that Commerce Bancshares, Inc. will post 3.92 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.67%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,398 shares of company stock valued at $2,504,665 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CBSH shares. Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.75.

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.