Commerce Bancshares, Inc. $CBSH Stock: Cooke & Bieler LP Decreases Position

Cooke & Bieler LP decreased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 558,940 shares of the financial services provider’s stock after selling 32,281 shares during the period. Cooke & Bieler LP owned 0.39% of Commerce Bancshares worth $30,596,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in shares of Commerce Bancshares by 14.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 12,451 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 1,534 shares during the period. 55 North Private Wealth LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $1,751,000. Arkfeld Wealth Strategies L.L.C. bought a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $12,170,000. IFP Advisors Inc raised its holdings in shares of Commerce Bancshares by 14.3% in the 3rd quarter. IFP Advisors Inc now owns 2,492 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 312 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $255,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings upgraded Commerce Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. TD Cowen reissued a “hold” rating and issued a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Stephens set a $62.00 target price on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Finally, Raymond James Financial raised Commerce Bancshares to a “hold” rating in a research report on Thursday, August 27th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.64.

Insider Buying and Selling

In related news, SVP Douglas Neff sold 666 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $58.15, for a total value of $38,727.90. Following the completion of the transaction, the senior vice president directly owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Derrick Brooks sold 1,041 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the transaction, the senior vice president owned 13,117 shares of the company’s stock, valued at $782,166.71. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,950 shares of company stock worth $1,963,777 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Commerce Bancshares Stock Down 0.8%

Shares of NASDAQ:CBSH opened at $55.14 on Thursday. The firm has a market capitalization of $7.91 billion, a PE ratio of 13.29, a P/E/G ratio of 1.69 and a beta of 0.60. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $60.92. The company has a 50-day moving average price of $56.92 and a two-hundred day moving average price of $55.50.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. Commerce Bancshares had a net margin of 26.06% and a return on equity of 14.27%. The firm had revenue of $494.34 million during the quarter, compared to the consensus estimate of $496.75 million. During the same quarter last year, the company earned $1.06 earnings per share. Analysts anticipate that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Friday, September 4th were paid a dividend of $0.2750 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, September 4th. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Commerce Bancshares News Summary

Here are the key news stories impacting Commerce Bancshares this week:

• Positive Sentiment: Third-quarter earnings were $1.08 per share, ahead of the $1.07 consensus estimate and up from $1.06 a year earlier. Net income rose to $155.0 million from $141.5 million, supported by the company’s diversified banking, investment-banking and wealth-services operations. Commerce Bancshares Third Quarter Earnings Release
• Positive Sentiment: Non-interest income increased $24.0 million year over year to $185.5 million, while non-interest expense declined $11.1 million from the prior quarter to $285.9 million. Average loans also grew by $172.3 million sequentially to $20.7 billion, indicating continued underlying loan demand. Commerce Bancshares Third Quarter Metrics
• Positive Sentiment: Commerce Bancshares repurchased approximately 1.9 million shares at an average price of $58.84, which should support per-share results and signals management’s willingness to return capital to shareholders. Commerce Bancshares Share Repurchases
• Neutral Sentiment: Management highlighted acquisitions that are expanding Commerce’s investment-banking and wealth-services capabilities, potentially improving revenue diversification over time. Commerce Bancshares Acquisitions and Third Quarter Results
• Negative Sentiment: Quarterly revenue of $494.3 million fell short of the $496.8 million analyst estimate and declined from $499.0 million in the second quarter. Net-interest income also decreased $6.2 million sequentially, while quarterly EPS fell from $1.10 in the prior quarter.
• Negative Sentiment: Recent insider activity was entirely weighted toward selling, with eight reported sales and no purchases over the past six months. Although insider transactions may reflect personal financial decisions, the pattern can weigh on investor sentiment. Commerce Bancshares Insider Trading Activity

About Commerce Bancshares

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.