Wealth Enhancement Advisory Services LLC Has $842,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 81.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,168 shares of the financial services provider’s stock after acquiring an additional 6,349 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Commerce Bancshares were worth $842,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 2.1% during the 1st 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 period. SG Americas Securities LLC acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $1,226,000. Marshall Financial Group LLC acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $1,006,000. Sei Investments Co. grew its stake in shares of Commerce Bancshares by 15.7% in the 1st quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock valued at $33,055,000 after buying an additional 84,433 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Commerce Bancshares by 181.3% in the 1st quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after buying an additional 11,540 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the sale, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at $1,543,672.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $60.82, for a total transaction of $91,230.00. Following the completion of the transaction, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John K. Handy sold 1,331 shares of the company’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 transaction, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at approximately $2,650,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,831 shares of company stock worth $2,154,008. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CBSH shares. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company raised their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.79.

Commerce Bancshares Price Performance

CBSH opened at $69.96 on Thursday. The company has a fifty day moving average price of $61.21 and a 200-day moving average price of $58.92. The firm has a market capitalization of $9.02 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73. Commerce Bancshares, Inc. has a one year low of $42.48 and a one year high of $70.02.

Commerce Bancshares Announces Dividend

The business also recently announced 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 1.54%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

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.