Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,452 shares of the financial services provider’s stock after acquiring an additional 292 shares during the period. Raymond James Trust N.A.’s holdings in Commerce Bancshares were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CBSH. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares during the 3rd quarter valued at approximately $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares in the third quarter worth $39,000. GAMMA Investing LLC raised its holdings in Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 in the company, valued at $71,170,189.32. This represents a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,454,999.63. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,109 shares of company stock valued at $2,191,123. Insiders own 3.10% of the company’s stock.

Commerce Bancshares Trading Down 0.1 %

Shares of NASDAQ CBSH opened at $73.88 on Thursday. Commerce Bancshares, Inc. has a 12-month low of $47.19 and a 12-month high of $76.39. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73. The stock’s 50 day simple moving average is $64.00 and its 200 day simple moving average is $60.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. 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

Several equities research analysts have recently weighed in on CBSH shares. 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 research report on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Commerce Bancshares currently 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.