CoreFirst Bank & Trust Makes New $33,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

CoreFirst Bank & Trust bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 536 shares of the financial services provider’s stock, valued at approximately $33,000.

A number of other large investors have also recently modified their holdings of CBSH. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $35,000. True Wealth Design LLC purchased a new position in Commerce Bancshares during the third quarter valued at $47,000. V Square Quantitative Management LLC boosted its holdings 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 worth $49,000 after acquiring an additional 361 shares in the last quarter. GAMMA Investing LLC boosted its stake in Commerce Bancshares by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Commerce Bancshares by 35.3% during the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock valued at $100,000 after buying an additional 439 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $62.69 on Thursday. Commerce Bancshares, Inc. has a 1-year low of $48.49 and a 1-year high of $72.75. The company’s fifty day simple moving average is $64.40 and its 200-day simple moving average is $64.43. The stock has a market capitalization of $8.41 billion, a PE ratio of 15.63, a P/E/G ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the business earned $0.84 earnings per share. Commerce Bancshares’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a dividend of $0.275 per share. The ex-dividend date was Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.75%. Commerce Bancshares’s payout ratio is 27.43%.

Insider Buying and Selling

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 sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % 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. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBSH. Wells Fargo & Company upped their price target on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler lifted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $68.17.

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.