Ensign Peak Advisors Inc Has $2.72 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Ensign Peak Advisors Inc lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,650 shares of the financial services provider’s stock after acquiring an additional 2,078 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Commerce Bancshares were worth $2,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CBSH. Kapitalo Investimentos Ltda acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $26,000. CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $33,000. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $35,000. V Square Quantitative Management LLC boosted its position in shares of Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after buying an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock worth $52,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $65.55 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The stock’s 50-day moving average is $60.76 and its two-hundred day moving average is $64.39. The firm has a market cap of $8.75 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.68%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CBSH shares. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Piper Sandler lifted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their price objective on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.20.

Insider Buying and Selling at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the transaction, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% 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.