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

Cerity Partners LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 40.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,872 shares of the financial services provider’s stock after purchasing an additional 21,664 shares during the period. Cerity Partners LLC’s holdings in Commerce Bancshares were worth $4,447,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Commerce Bancshares by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares during the period. Dimensional Fund Advisors LP grew its stake in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after purchasing an additional 342,793 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after purchasing an additional 168,550 shares during the period. Sei Investments Co. raised its position in Commerce Bancshares by 0.5% in the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after purchasing an additional 3,391 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Commerce Bancshares by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider’s stock valued at $31,653,000 after buying an additional 13,772 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $579,539.80. The trade was a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,109 shares of company stock worth $2,191,123. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Down 0.1 %

Shares of Commerce Bancshares stock opened at $73.88 on Friday. The company has a fifty day simple moving average of $64.22 and a 200-day simple moving average of $60.70. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.99 and a beta of 0.73. Commerce Bancshares, Inc. has a 12-month low of $47.19 and a 12-month high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $412.85 million. On average, analysts forecast that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Analyst Ratings Changes

A number of analysts recently weighed in on CBSH shares. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, 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 note on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.79.

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.