Outlook Wealth Advisors LLC Buys 1,163 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Outlook Wealth Advisors LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 29.3% during the first quarter, HoldingsChannel reports. The firm owned 5,127 shares of the financial services provider’s stock after buying an additional 1,163 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CBSH. National Bank of Canada FI grew its stake in shares of Commerce Bancshares by 198.5% in the third quarter. National Bank of Canada FI now owns 23,372 shares of the financial services provider’s stock worth $1,081,000 after acquiring an additional 15,541 shares during the last quarter. AE Wealth Management LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at approximately $221,000. Ballentine Partners LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at approximately $312,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Commerce Bancshares by 19.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 3,937 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC grew its holdings in shares of Commerce Bancshares by 5.5% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 650 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the sale, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,661 shares of company stock valued at $606,528. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Down 0.1 %

NASDAQ CBSH traded down $0.03 on Friday, hitting $55.41. 300,167 shares of the company were exchanged, compared to its average volume of 522,596. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $56.75. The firm has a 50 day moving average of $52.48 and a two-hundred day moving average of $51.26. The company has a market cap of $7.20 billion, a P/E ratio of 15.45 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. Commerce Bancshares’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 earnings per share. Research analysts anticipate that Commerce Bancshares, Inc. will post 3.43 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.95%. Commerce Bancshares’s payout ratio is 30.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBSH shares. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Piper Sandler lifted their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Bank of America assumed 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, Morgan Stanley upped their price target on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and a consensus price target of $55.00.

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.