North Star Investment Management Corp. Has $715,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Posted by Defense World Staff on Mar 21st, 2023

North Star Investment Management Corp. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,497 shares of the financial services provider’s stock after purchasing an additional 498 shares during the period. North Star Investment Management Corp.’s holdings in Commerce Bancshares were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBSH. Vanguard Group Inc. grew its holdings in shares of Commerce Bancshares by 1.0% during the third quarter. Vanguard Group Inc. now owns 11,332,270 shares of the financial services provider’s stock valued at $749,743,000 after buying an additional 117,162 shares in the last quarter. State Street Corp increased its holdings in shares of Commerce Bancshares by 8.9% in the 1st quarter. State Street Corp now owns 6,656,709 shares of the financial services provider’s stock valued at $476,554,000 after purchasing an additional 544,292 shares during the period. Lazard Asset Management LLC lifted its position in shares of Commerce Bancshares by 2.1% in the first quarter. Lazard Asset Management LLC now owns 5,304,379 shares of the financial services provider’s stock worth $379,739,000 after purchasing an additional 111,594 shares in the last quarter. Eaton Vance Management lifted its position in shares of Commerce Bancshares by 0.6% in the third quarter. Eaton Vance Management now owns 1,404,351 shares of the financial services provider’s stock worth $92,912,000 after purchasing an additional 8,468 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Commerce Bancshares by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 1,300,308 shares of the financial services provider’s stock worth $85,366,000 after purchasing an additional 5,448 shares during the period. 64.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, Director David W. Kemper sold 1,036 shares of the stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $67.39, for a total transaction of $69,816.04. Following the transaction, the director now owns 1,162,396 shares in the company, valued at $78,333,866.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Commerce Bancshares news, CEO John W. Kemper sold 18,107 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $66.33, for a total transaction of $1,201,037.31. Following the completion of the transaction, the chief executive officer now owns 160,803 shares of the company’s stock, valued at approximately $10,666,062.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Kemper sold 1,036 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $67.39, for a total transaction of $69,816.04. Following the sale, the director now owns 1,162,396 shares of the company’s stock, valued at $78,333,866.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,551 shares of company stock worth $3,076,855. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CBSH shares. Morgan Stanley cut their target price on shares of Commerce Bancshares from $70.48 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, January 6th. StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th.

Commerce Bancshares Stock Up 1.2 %

CBSH stock opened at $58.84 on Tuesday. The firm has a 50 day moving average of $65.52 and a two-hundred day moving average of $68.07. Commerce Bancshares, Inc. has a 12 month low of $55.83 and a 12 month high of $72.60. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 15.29 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Commerce Bancshares had a net margin of 31.60% and a return on equity of 18.60%. The firm had revenue of $391.50 million during the quarter, compared to analysts’ expectations of $395.61 million. During the same period in the prior year, the company posted $0.89 earnings per share. Commerce Bancshares’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.93 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Tuesday, March 7th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.06%.

About Commerce Bancshares

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Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.