Peregrine Asset Advisers Inc. Purchases 1,142 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Peregrine Asset Advisers Inc. raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,993 shares of the financial services provider’s stock after buying an additional 1,142 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Commerce Bancshares were worth $1,281,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CBSH. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Commerce Bancshares by 19.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the financial services provider’s stock valued at $1,138,000 after acquiring an additional 3,937 shares in the last quarter. FORVIS Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 5.5% during the third quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock valued at $596,000 after buying an additional 650 shares during the last quarter. Advisor Partners II LLC purchased a new position in shares of Commerce Bancshares during the third quarter valued at approximately $201,000. TIAA Trust National Association bought a new stake in Commerce Bancshares during the third quarter worth $230,000. Finally, Financial Advocates Investment Management purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $364,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.0 %

Commerce Bancshares stock traded up $0.01 during trading on Monday, hitting $56.15. The stock had a trading volume of 352,991 shares, compared to its average volume of 481,472. The stock’s 50 day moving average is $52.87 and its two-hundred day moving average is $51.56. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $57.00. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 15.64 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.48 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s payout ratio is currently 30.08%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CBSH. Morgan Stanley upped their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Bank of America began coverage on Commerce Bancshares in a report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Piper Sandler boosted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.00.

Insider Buying and Selling

In related news, SVP David L. Roller sold 1,392 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $50.62, for a total transaction of $70,463.04. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $1,566,638.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP David L. Roller sold 1,392 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $50.62, for a total transaction of $70,463.04. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,566,638.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Douglas D. Neff sold 614 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,876 shares of company stock valued at $510,441. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Company 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.