Xponance Inc. Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Xponance Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,118 shares of the financial services provider’s stock after purchasing an additional 1,369 shares during the quarter. Xponance Inc.’s holdings in Commerce Bancshares were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CBSH. Marshall Investment Management LLC purchased a new position in Commerce Bancshares in the 4th quarter valued at about $35,000. True Wealth Design LLC acquired a new position in shares of Commerce Bancshares in the third quarter worth about $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 valued at $49,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC grew its stake in Commerce Bancshares by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 187 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Commerce Bancshares by 35.3% during the 4th quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 439 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Commerce Bancshares

In other news, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction dated 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 sale, the executive vice president now owns 45,511 shares in the company, valued at approximately $3,006,456.66. This represents a 35.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock worth $5,248,272 in the last three months. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Trading Up 2.3 %

Shares of Commerce Bancshares stock opened at $62.63 on Tuesday. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a twelve month low of $48.49 and a twelve month high of $72.75. The business’s 50 day simple moving average is $64.44 and its 200-day simple moving average is $64.43.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 net margin of 25.24% and a return on equity of 16.31%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.76%. Commerce Bancshares’s payout ratio is currently 27.43%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CBSH shares. Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.17.

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.