Commerce Bancshares, Inc. (NASDAQ:CBSH) Holdings Increased by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12,340.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,244 shares of the financial services provider’s stock after acquiring an additional 1,234 shares during the quarter. Blue Trust Inc.’s holdings in Commerce Bancshares were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Stratos Wealth Advisors LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter valued at $219,000. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the third quarter worth about $26,000. Marshall Financial Group LLC raised its position in Commerce Bancshares by 1.2% in the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 223 shares in the last quarter. nVerses Capital LLC acquired a new stake in Commerce Bancshares in the 3rd quarter valued at about $255,000. Finally, Wedge Capital Management L L P NC boosted its position in shares of Commerce Bancshares by 2.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 31,425 shares of the financial services provider’s stock valued at $1,867,000 after purchasing an additional 659 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of several recent research reports. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. 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. Finally, Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $61.79.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 25,381 shares in the company, valued at approximately $1,543,672.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John K. Handy sold 1,331 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $60.82, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,831 shares of company stock worth $2,154,008. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Trading Up 1.8 %

NASDAQ:CBSH opened at $63.58 on Thursday. The business’s fifty day moving average price is $61.23 and its 200 day moving average price is $58.60. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 3.03 and a beta of 0.74. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86.

Commerce Bancshares Announces Dividend

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

About Commerce Bancshares

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.