Corient Private Wealth LLC Has $860,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Corient Private Wealth LLC increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,794 shares of the financial services provider’s stock after purchasing an additional 1,120 shares during the period. Corient Private Wealth LLC’s holdings in Commerce Bancshares were worth $860,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $35,000. True Wealth Design LLC bought a new position in Commerce Bancshares during the third quarter worth $47,000. V Square Quantitative Management LLC raised 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 valued at $49,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 187 shares during the period. Finally, Blue Trust Inc. grew its position in Commerce Bancshares by 35.3% in 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. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $62.27 on Friday. The firm has a market capitalization of $8.35 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.13 and a beta of 0.78. The stock has a fifty day moving average price of $64.37 and a two-hundred day moving average price of $64.41. Commerce Bancshares, Inc. has a 52-week low of $48.49 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released 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. The firm had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler upped their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley cut their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company lifted their price target on shares of 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 research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.17.

Insider Buying and Selling at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 211,929 shares of the company’s stock, valued at $14,258,583.12. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, 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. In the last 90 days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is currently owned by corporate insiders.

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.