Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,383 shares of the financial services provider’s stock after selling 2,200 shares during the period. New York State Teachers Retirement System owned 0.12% of Commerce Bancshares worth $8,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sound Stewardship LLC boosted its holdings in shares of Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Commerce Bancshares by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,747 shares of the financial services provider’s stock valued at $816,000 after buying an additional 920 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Commerce Bancshares by 81.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,168 shares of the financial services provider’s stock valued at $842,000 after buying an additional 6,349 shares during the period. Outlook Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 3.6% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after buying an additional 217 shares during the period. Finally, Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.2 %

Shares of NASDAQ CBSH opened at $62.65 on Monday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.09 and a beta of 0.73. Commerce Bancshares, Inc. has a 52-week low of $41.67 and a 52-week high of $65.86. The business’s 50 day moving average is $61.22 and its two-hundred day moving average is $58.75.

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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Wall Street Analyst Weigh In

CBSH has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.79.

Insider Transactions at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was 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 approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was 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 approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,831 shares of company stock valued at $2,154,008. 3.20% of the stock is currently owned by company insiders.

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.