Oppenheimer & Co. Inc. increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 105,261 shares of the financial services provider’s stock after acquiring an additional 1,304 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Commerce Bancshares were worth $5,878,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Commerce Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock worth $203,447,000 after purchasing an additional 369,008 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Commerce Bancshares by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after purchasing an additional 35,361 shares in the last quarter. Nuance Investments LLC grew its stake in shares of Commerce Bancshares by 4.3% during the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after purchasing an additional 40,997 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Commerce Bancshares by 1.9% during the third quarter. Wells Fargo & Company MN now owns 970,188 shares of the financial services provider’s stock worth $56,048,000 after purchasing an additional 17,857 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Commerce Bancshares by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 930,383 shares of the financial services provider’s stock worth $53,747,000 after purchasing an additional 6,268 shares in the last quarter. Hedge funds and other institutional investors own 59.55% of the company’s stock.

In related news, VP Daniel D. Callahan sold 2,972 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.56, for a total value of $174,040.32. Following the completion of the sale, the vice president now directly owns 36,266 shares of the company’s stock, valued at $2,123,736.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles G. Kim sold 6,909 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.66, for a total transaction of $405,281.94. Following the completion of the sale, the chief financial officer now directly owns 87,303 shares of the company’s stock, valued at $5,121,193.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,298 shares of company stock valued at $9,758,949. 4.30% of the stock is owned by corporate insiders.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $56.89 on Friday. Commerce Bancshares, Inc. has a 1 year low of $49.43 and a 1 year high of $59.72. The firm has a market cap of $6,065.33, a price-to-earnings ratio of 19.63, a P/E/G ratio of 2.13 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The firm had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million. analysts anticipate that Commerce Bancshares, Inc. will post 3.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be given a $0.235 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a yield of 1.65%. Commerce Bancshares’s payout ratio is 31.05%.

A number of equities analysts recently commented on CBSH shares. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, January 8th. Barclays boosted their target price on shares of Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and set a $54.00 target price on shares of Commerce Bancshares in a research note on Friday, January 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $57.13.

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Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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

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