ETF Managers Group LLC grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,319 shares of the financial services provider’s stock after purchasing an additional 442 shares during the period. ETF Managers Group LLC’s holdings in Commerce Bancshares were worth $131,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CBSH. Essex Savings Bank acquired a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $87,000. Acadian Asset Management LLC raised its stake in shares of Commerce Bancshares by 224.3% during the 3rd quarter. Acadian Asset Management LLC now owns 1,842 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,274 shares during the period. Caxton Associates LP acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $230,000. Mutual Advisors LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $237,000. Finally, Quantbot Technologies LP acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $247,000. Institutional investors and hedge funds own 62.08% of the company’s stock.

NASDAQ CBSH opened at $60.62 on Tuesday. Commerce Bancshares, Inc. has a one year low of $53.40 and a one year high of $72.55. The firm has a market capitalization of $6.75 billion, a P/E ratio of 16.04, a PEG ratio of 3.65 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. Commerce Bancshares had a return on equity of 16.29% and a net margin of 31.18%. The firm had revenue of $345.31 million during the quarter, compared to the consensus estimate of $335.66 million. During the same period in the prior year, the company earned $0.74 EPS. Equities analysts predict that Commerce Bancshares, Inc. will post 3.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be paid a $0.26 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 7th. Commerce Bancshares’s dividend payout ratio is currently 24.87%.

Several research analysts have recently weighed in on CBSH shares. Raymond James raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 target price for the company in a research note on Friday, January 18th. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, December 11th. BidaskClub raised Commerce Bancshares from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. Barclays reissued a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research note on Friday, January 11th. Finally, Stephens reissued a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $63.49.

In other Commerce Bancshares news, Director David W. Kemper sold 20,000 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $59.81, for a total value of $1,196,200.00. Following the completion of the sale, the director now directly owns 1,319,624 shares in the company, valued at approximately $78,926,711.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Daniel D. Callahan sold 787 shares of the company’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $60.74, for a total value of $47,802.38. Following the completion of the sale, the vice president now owns 25,848 shares of the company’s stock, valued at $1,570,007.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,291 shares of company stock valued at $3,638,888. 4.00% of the stock is owned by corporate insiders.

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Commerce Bancshares Profile

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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