Angeles Investment Advisors LLC Increases Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Angeles Investment Advisors LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, Holdings Channel reports. The fund owned 4,074 shares of the financial services provider’s stock after buying an additional 194 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Commerce Bancshares were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CBSH. Congress Wealth Management LLC DE boosted its holdings in Commerce Bancshares by 14.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 8,910 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 1,107 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock valued at $824,080,000 after buying an additional 642,401 shares in the last quarter. LPL Financial LLC grew its holdings in Commerce Bancshares by 15.5% during the fourth quarter. LPL Financial LLC now owns 76,597 shares of the financial services provider’s stock worth $4,773,000 after acquiring an additional 10,305 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Commerce Bancshares in the fourth quarter worth $1,621,000. Finally, Sei Investments Co. lifted its holdings in Commerce Bancshares by 20.9% in the fourth quarter. Sei Investments Co. now owns 877,808 shares of the financial services provider’s stock valued at $54,696,000 after acquiring an additional 151,682 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Patricia R. Kellerhals sold 1,719 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the sale, the senior vice president now owns 18,688 shares in the company, valued at $1,257,702.40. This trade represents a 8.42 % 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 company’s stock in a transaction on 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 transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock valued at $5,248,272 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBSH. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler increased their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $68.17.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $61.24 on Monday. Commerce Bancshares, Inc. has a 1 year low of $48.49 and a 1 year high of $72.75. The business has a 50 day moving average price of $64.42 and a 200 day moving average price of $64.43. The company has a market capitalization of $8.21 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.13 and a beta of 0.78.

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, topping analysts’ consensus estimates of $0.95 by $0.06. The company 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 for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 27.43%.

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.