Trust Point Inc. Has $616,000 Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Trust Point Inc. increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 75.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,892 shares of the financial services provider’s stock after buying an additional 4,255 shares during the quarter. Trust Point Inc.’s holdings in Commerce Bancshares were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Trust Walden Corp grew its position in Commerce Bancshares by 17.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Commerce Bancshares by 51.3% during the fourth quarter. CENTRAL TRUST Co now owns 52,612 shares of the financial services provider’s stock valued at $3,278,000 after buying an additional 17,845 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Commerce Bancshares during the fourth quarter worth about $201,000. OLD National Bancorp IN acquired a new stake in shares of Commerce Bancshares in the 4th quarter worth about $213,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Commerce Bancshares by 2.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 68,643 shares of the financial services provider’s stock valued at $4,277,000 after acquiring an additional 1,863 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 2.4 %

CBSH opened at $67.45 on Wednesday. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The company’s 50-day moving average price is $65.71 and its two-hundred day moving average price is $64.10. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business 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 earned $0.84 earnings per share. Commerce Bancshares’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.63%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is 26.93%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares in the company, valued at $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David W. Kemper sold 3,708 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $66.16, for a total transaction of $245,321.28. Following the completion of the transaction, the chairman now owns 1,208,311 shares of the company’s stock, valued at $79,941,855.76. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,698 shares of company stock worth $2,721,001. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company raised their price objective 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. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.83.

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.