Natixis Advisors LLC Acquires 1,828 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Natixis Advisors LLC increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,918 shares of the financial services provider’s stock after purchasing an additional 1,828 shares during the quarter. Natixis Advisors LLC’s holdings in Commerce Bancshares were worth $1,179,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CBSH. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $35,000. True Wealth Design LLC acquired a new stake in Commerce Bancshares during the third quarter worth approximately $47,000. V Square Quantitative Management LLC increased its stake in Commerce Bancshares by 84.0% during the 4th 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 during the period. GAMMA Investing LLC raised its holdings 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 valued at $71,000 after acquiring an additional 187 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Commerce Bancshares by 35.3% during the 4th quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 439 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.4 %

CBSH opened at $62.85 on Wednesday. The company has a market cap of $8.43 billion, a P/E ratio of 15.67, a PEG ratio of 2.13 and a beta of 0.78. The company’s 50 day moving average is $64.43 and its 200-day moving average is $64.44. Commerce Bancshares, Inc. has a 1-year low of $48.49 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its 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. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a $0.275 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.75%. This is an increase 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, CEO John W. Kemper sold 26,042 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,434 shares of company stock worth $5,248,272 in the last quarter. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Morgan Stanley decreased 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. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average price target 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.