Daiwa Securities Group Inc. Acquires 405 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Daiwa Securities Group Inc. raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,507 shares of the financial services provider’s stock after purchasing an additional 405 shares during the period. Daiwa Securities Group Inc.’s holdings in Commerce Bancshares were worth $241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Advisors Inc. OK increased its position in Commerce Bancshares by 5.0% during the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after buying an additional 210 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Commerce Bancshares by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 50,184 shares of the financial services provider’s stock valued at $2,408,000 after buying an additional 250 shares during the last quarter. Delta Financial Group Inc. raised its stake in Commerce Bancshares by 5.0% in the fourth quarter. Delta Financial Group Inc. now owns 5,250 shares of the financial services provider’s stock valued at $280,000 after buying an additional 250 shares during the last quarter. Heartland Bank & Trust Co raised its stake in Commerce Bancshares by 5.0% in the fourth quarter. Heartland Bank & Trust Co now owns 5,334 shares of the financial services provider’s stock valued at $285,000 after buying an additional 254 shares during the last quarter. Finally, Sound Stewardship LLC raised its stake in Commerce Bancshares by 5.0% in the fourth quarter. Sound Stewardship LLC now owns 5,403 shares of the financial services provider’s stock valued at $289,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.1 %

Commerce Bancshares stock opened at $55.41 on Friday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 15.45 and a beta of 0.79. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $56.75. The business’s 50-day moving average price is $52.48 and its 200 day moving average price is $51.26.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. Commerce Bancshares’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.95%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 30.12%.

Insider Buying and Selling

In related news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the sale, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $403,909.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares in the company, valued at $2,648,429.38. The disclosure for this sale can be found here. Insiders have sold a total of 11,661 shares of company stock valued at $606,528 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Wednesday, April 17th. Piper Sandler increased their price target on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods increased their price objective on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Finally, Bank of America assumed coverage on Commerce Bancshares in a report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.