Frank Rimerman Advisors LLC Boosts Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Frank Rimerman Advisors LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,993 shares of the financial services provider’s stock after purchasing 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 institutional investors have also bought and sold shares of CBSH. Boston Trust Walden Corp lifted its stake in Commerce Bancshares by 17.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Commerce Bancshares during the 4th quarter valued at $10,387,000. Geode Capital Management LLC raised its holdings in Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after acquiring an additional 163,782 shares during the period. Fisher Asset Management LLC raised its holdings in Commerce Bancshares by 3,635.0% during the 4th quarter. Fisher Asset Management LLC now owns 153,171 shares of the financial services provider’s stock valued at $9,544,000 after acquiring an additional 149,070 shares during the period. Finally, NFJ Investment Group LLC raised its holdings in Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after acquiring an additional 106,316 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $61.83 on Tuesday. The stock has a market cap of $8.28 billion, a P/E ratio of 15.42, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75. The firm’s fifty day moving average price is $64.47 and its 200-day moving average price is $64.48.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Sell-side 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. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

Insider Activity at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of the stock in a transaction 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 transaction, the vice president now owns 22,175 shares of the company’s stock, valued at $1,513,222. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock valued at $5,248,272 over the last 90 days. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of analyst reports. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Morgan Stanley lowered their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods boosted their target price 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 boosted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.17.

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.