CENTRAL TRUST Co Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

CENTRAL TRUST Co lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,767 shares of the financial services provider’s stock after purchasing an additional 1,139 shares during the period. CENTRAL TRUST Co’s holdings in Commerce Bancshares were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CBSH. Vanguard Group Inc. increased its stake 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 buying an additional 259,127 shares in the last quarter. SG Americas Securities LLC acquired a new position in Commerce Bancshares in the 2nd quarter valued at $1,226,000. Marshall Financial Group LLC purchased a new position in Commerce Bancshares in the 2nd quarter valued at $1,006,000. Sei Investments Co. boosted its stake in Commerce Bancshares by 15.7% during the 1st quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock worth $33,055,000 after purchasing an additional 84,433 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Commerce Bancshares by 181.3% during the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock worth $953,000 after buying an additional 11,540 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP John K. Handy sold 1,331 shares of the 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 transaction, the executive vice president now owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP John K. Handy sold 1,331 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 41,548 shares in the company, valued at $2,650,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John K. Handy sold 6,424 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $65.01, for a total value of $417,624.24. Following the completion of the sale, the executive vice president now owns 42,728 shares in the company, valued at $2,777,747.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,174 shares of company stock worth $3,151,255. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Down 0.6 %

NASDAQ:CBSH opened at $61.53 on Friday. The company has a market capitalization of $7.93 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.05 and a beta of 0.74. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.86. The stock’s fifty day moving average is $61.19 and its two-hundred day moving average is $58.28.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CBSH. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. 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, Commerce Bancshares has an average rating of “Hold” and an average target price 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.