Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Financial Advocates Investment Management

by · The Markets Daily

Financial Advocates Investment Management increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,904 shares of the financial services provider’s stock after acquiring an additional 241 shares during the period. Financial Advocates Investment Management’s holdings in Commerce Bancshares were worth $945,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the third quarter valued at $26,000. Allworth Financial LP raised its stake in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Bessemer Group Inc. raised its stake in Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares in the last quarter. GAMMA Investing LLC raised its stake 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 buying an additional 521 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its stake in Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after buying an additional 974 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.2 %

Shares of CBSH opened at $62.65 on Friday. Commerce Bancshares, Inc. has a twelve month low of $41.67 and a twelve month high of $65.86. The stock’s 50 day moving average is $61.22 and its two-hundred day moving average is $58.70. The firm has a market capitalization of $8.08 billion, a PE ratio of 16.32, a P/E/G ratio of 3.09 and a beta of 0.73.

Commerce Bancshares Dividend Announcement

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 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 dividend yield of 1.72%. Commerce Bancshares’s payout ratio is 28.13%.

Insider Activity

In other news, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at approximately $1,543,672.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares 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 transaction, the senior vice president now directly owns 25,381 shares in the company, valued at $1,543,672.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,831 shares of company stock worth $2,154,008. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $61.79.

View Our Latest Stock Report on Commerce Bancshares

Commerce Bancshares Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report).