Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,904 shares of the financial services provider’s stock after purchasing an additional 241 shares during the quarter. Financial Advocates Investment Management’s holdings in Commerce Bancshares were worth $945,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Commerce Bancshares by 0.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 154 shares in the last quarter. Sound Stewardship LLC boosted its stake 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 purchasing an additional 163 shares during the period. Allworth Financial LP boosted its stake 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 purchasing an additional 192 shares during the period. Outlook Wealth Advisors LLC boosted its stake 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 purchasing an additional 217 shares during the period. Finally, Marshall Financial Group LLC boosted its stake 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 purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CBSH. Wells Fargo & Company lifted their target price on shares of 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 raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley downgraded 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. Finally, Piper Sandler set a $68.50 target price on shares of 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 given a buy rating to the company. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $61.79.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH stock opened at $62.65 on Friday. The firm has a fifty day moving average of $61.22 and a 200-day moving average of $58.70. Commerce Bancshares, Inc. has a 12-month low of $41.67 and a 12-month high of $65.86. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 3.09 and a beta of 0.73.

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 annualized dividend 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 28.13%.

Insider Transactions at Commerce Bancshares

In related news, EVP John K. Handy sold 1,331 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 41,548 shares in the company, valued at approximately $2,650,762.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP John K. Handy sold 1,331 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 41,548 shares in the company, valued at approximately $2,650,762.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the 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 transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,831 shares of company stock valued at $2,154,008 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.