Thurston Springer Miller Herd & Titak Inc. Acquires 10,749 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Thurston Springer Miller Herd & Titak Inc. increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 56.4% in the fourth quarter, HoldingsChannel reports. The firm owned 29,797 shares of the financial services provider’s stock after purchasing an additional 10,749 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Commerce Bancshares were worth $1,857,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP boosted its holdings in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Commerce Bancshares in the third quarter worth $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares in the third quarter worth $47,000. Finally, Farther Finance Advisors LLC boosted its holdings in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,398 shares of company stock valued at $2,504,665 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $63.46 on Wednesday. The firm has a 50-day simple moving average of $67.47 and a 200 day simple moving average of $63.22. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The stock has a market cap of $8.14 billion, a PE ratio of 16.53, a PEG ratio of 2.92 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released 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 business had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Research analysts forecast that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CBSH shares. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.75.

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.