Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 40.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,872 shares of the financial services provider’s stock after purchasing an additional 21,664 shares during the period. Cerity Partners LLC owned about 0.06% of Commerce Bancshares worth $4,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $39,000. GAMMA Investing LLC raised its position in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after buying an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CBSH shares. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven 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, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Stock Down 0.1 %

NASDAQ CBSH opened at $73.88 on Friday. Commerce Bancshares, Inc. has a 52 week low of $47.19 and a 52 week high of $76.39. The business’s fifty day simple moving average is $64.22 and its 200-day simple moving average is $60.70. The firm has a market cap of $9.47 billion, a PE ratio of 19.24, a P/E/G ratio of 3.99 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Research analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.46%. Commerce Bancshares’s payout ratio is 28.13%.

Insiders Place Their Bets

In related news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction dated 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 owns 41,548 shares in the company, valued at approximately $2,650,762.40. This trade represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock valued at $2,191,123 over the last quarter. 3.20% of the stock is owned by insiders.

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.