TIAA Trust National Association Buys 227 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

TIAA Trust National Association increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,757 shares of the financial services provider’s stock after buying an additional 227 shares during the quarter. TIAA Trust National Association’s holdings in Commerce Bancshares were worth $296,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC increased its holdings in Commerce Bancshares by 18.5% in the 4th quarter. Modern Wealth Management LLC now owns 16,638 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 2,595 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $33,000. ICW Investment Advisors LLC increased its stake in Commerce Bancshares by 2.9% in the fourth quarter. ICW Investment Advisors LLC now owns 10,089 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 287 shares during the last quarter. Angeles Investment Advisors LLC raised its position in Commerce Bancshares by 5.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 194 shares in the last quarter. Finally, Congress Wealth Management LLC DE boosted its holdings in shares of Commerce Bancshares by 14.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 8,910 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 1,107 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of the business’s 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 transaction, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the sale, the senior vice president now owns 18,688 shares of the company’s stock, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,434 shares of company stock worth $5,248,272. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. 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 report on Thursday, January 23rd. Morgan Stanley decreased their price target 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. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.17.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $61.62 on Friday. The company has a 50 day simple moving average of $64.30 and a 200 day simple moving average of $64.41. Commerce Bancshares, Inc. has a 1 year low of $48.49 and a 1 year high of $72.75. The firm has a market cap of $8.26 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

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

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

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.