Pathstone Holdings LLC Has $1.72 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Pathstone Holdings LLC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,020 shares of the financial services provider’s stock after purchasing an additional 1,492 shares during the quarter. Pathstone Holdings LLC’s holdings in Commerce Bancshares were worth $1,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. raised its position in shares of Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares during the period. Boston Trust Walden Corp raised its holdings in Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after acquiring an additional 168,550 shares in the last quarter. Sei Investments Co. lifted its position in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after acquiring an additional 3,391 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Commerce Bancshares by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider’s stock worth $31,653,000 after purchasing an additional 13,772 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the subject of a number of analyst reports. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.79.

Commerce Bancshares Trading Down 0.1 %

CBSH opened at $73.88 on Thursday. The company has a market cap of $9.47 billion, a P/E ratio of 19.35, a PEG ratio of 4.02 and a beta of 0.73. The company’s 50 day moving average is $64.00 and its 200-day moving average is $60.60. Commerce Bancshares, Inc. has a 1-year low of $47.19 and a 1-year high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insiders Place Their Bets

In other news, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on 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 sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock valued at $2,191,123 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

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.