Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Hilton Capital Management LLC

Hilton Capital Management LLC trimmed its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,847 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. Hilton Capital Management LLC’s holdings in Commerce Bancshares were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 154 shares during the period. Sound Stewardship LLC grew its holdings in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after buying an additional 163 shares in the last quarter. Allworth Financial LP grew its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC grew its holdings in Commerce Bancshares by 3.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after buying an additional 217 shares in the last quarter. Finally, Marshall Financial Group LLC grew its holdings in Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after buying an additional 223 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of recent analyst reports. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.79.

Insider Transactions at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,219 shares of company stock valued at $2,126,803 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $71.60 on Wednesday. The stock has a fifty day moving average price of $62.86 and a two-hundred day moving average price of $60.02. The firm has a market cap of $9.18 billion, a P/E ratio of 18.65, a PEG ratio of 3.89 and a beta of 0.73. Commerce Bancshares, Inc. has a 1 year low of $46.72 and a 1 year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, research analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend 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.