Forvis Mazars Wealth Advisors LLC Purchases 655 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Forvis Mazars Wealth Advisors LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,796 shares of the financial services provider’s stock after buying an additional 655 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $860,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its position in Commerce Bancshares by 12,340.0% in the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,234 shares in the last quarter. Raymond James & Associates grew its stake in shares of Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after purchasing an additional 7,512 shares during the period. Allworth Financial LP raised its holdings in shares of Commerce Bancshares by 51.1% in 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 in the last quarter. Outlook Wealth Advisors LLC lifted its position in shares of Commerce Bancshares by 3.6% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after buying an additional 217 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Commerce Bancshares by 81.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock valued at $842,000 after buying an additional 6,349 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

CBSH has been the subject of several recent analyst reports. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler increased 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. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $67.83.

Commerce Bancshares Price Performance

CBSH opened at $64.00 on Monday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. Commerce Bancshares, Inc. has a one year low of $47.89 and a one year high of $72.75. The company’s 50 day simple moving average is $64.79 and its 200-day simple moving average is $64.42.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.84 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.72%. 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. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Insider Buying and Selling

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the transaction, the chief executive officer now directly owns 211,929 shares of the company’s stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,054 shares of company stock valued at $5,771,192 in the last 90 days. 3.20% of the stock is owned by insiders.

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.