Outlook Wealth Advisors LLC Increases Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Outlook Wealth Advisors LLC lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 29.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,127 shares of the financial services provider’s stock after purchasing 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 SEC.

A number of other institutional investors have also recently made changes to their positions in CBSH. BKM Wealth Management LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $35,000. Clarity Asset Management Inc. acquired a new position in shares of Commerce Bancshares during the fourth quarter worth about $43,000. Adirondack Trust Co. purchased a new stake in shares of Commerce Bancshares during the third quarter worth approximately $44,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the transaction, the executive vice president now directly owns 50,293 shares in the company, valued at approximately $2,648,429.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 50,293 shares in the company, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas D. Neff sold 614 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $403,909.50. The disclosure for this sale can be found here. Insiders sold a total of 11,661 shares of company stock valued at $606,528 in the last ninety days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CBSH shares. 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 initiated coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler boosted their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus price target of $55.00.

Commerce Bancshares Price Performance

Shares of CBSH traded down $0.03 during mid-day trading on Friday, reaching $55.41. 300,167 shares of the company’s stock were exchanged, compared to its average volume of 522,596. The business’s fifty day simple moving average is $52.48 and its 200-day simple moving average is $51.26. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $56.75. The stock has a market capitalization of $7.20 billion, a PE ratio of 15.45 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company had revenue of $397.80 million for the quarter, compared to the consensus estimate of $389.49 million. During the same period last year, the firm posted $0.90 EPS. Commerce Bancshares’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

About Commerce Bancshares

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.