Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 452,267 shares of the financial services provider’s stock after selling 1,144 shares during the quarter. Commerce Bancshares accounts for 0.8% of Mutual Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Mutual Advisors LLC owned approximately 0.35% of Commerce Bancshares worth $27,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBSH. Vanguard Group Inc. increased its position in shares of Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Commerce Bancshares in the second quarter valued at approximately $1,226,000. Marshall Financial Group LLC acquired a new position in shares of Commerce Bancshares during the second quarter valued at approximately $1,006,000. Sei Investments Co. raised its holdings in Commerce Bancshares by 15.7% during the first quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock worth $33,055,000 after purchasing an additional 84,433 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Commerce Bancshares by 181.3% in the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 11,540 shares during the period. 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, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John K. Handy sold 1,331 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the sale, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at $2,650,762.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,831 shares of company stock worth $2,154,008 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company upped their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Trading Up 0.3 %

Shares of Commerce Bancshares stock opened at $62.45 on Wednesday. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 3.03 and a beta of 0.74. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The company’s fifty day simple moving average is $61.20 and its 200-day simple moving average is $58.56.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Commerce Bancshares’s payout ratio is presently 28.13%.

Commerce Bancshares 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.