Callan Family Office LLC Buys New Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Callan Family Office LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,611 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other institutional investors also recently bought and sold shares of CBSH. Boston Trust Walden Corp grew its stake in Commerce Bancshares by 17.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after acquiring an additional 219,826 shares in the last quarter. Raymond James Financial Inc. bought a new position in Commerce Bancshares during the fourth quarter valued at $10,387,000. Geode Capital Management LLC lifted its position in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Fisher Asset Management LLC lifted its position in Commerce Bancshares by 3,635.0% during the fourth quarter. Fisher Asset Management LLC now owns 153,171 shares of the financial services provider’s stock valued at $9,544,000 after purchasing an additional 149,070 shares during the last quarter. Finally, NFJ Investment Group LLC lifted its position in Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after purchasing an additional 106,316 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Down 2.1 %

Commerce Bancshares stock opened at $59.57 on Wednesday. The firm has a 50-day moving average price of $64.63 and a 200-day moving average price of $64.56. The firm has a market capitalization of $7.98 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $417.48 million. During the same quarter last year, the business earned $0.84 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business 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 dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.85%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. 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 report on Thursday, January 23rd. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.83.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares of the company’s stock, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the transaction, the senior vice president now directly owns 21,265 shares in the company, valued at $1,439,427.85. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,016 shares of company stock worth $5,422,811 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.