Thurston Springer Miller Herd & Titak Inc. Boosts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,048 shares of the financial services provider’s stock after acquiring an additional 1,659 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Commerce Bancshares were worth $1,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. raised its position in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC lifted its position in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after buying an additional 521 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Commerce Bancshares by 2,864.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after buying an additional 974 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Commerce Bancshares by 93.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after buying an additional 805 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Commerce Bancshares during the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the completion of the transaction, the director now owns 997,112 shares of the company’s stock, valued at approximately $63,476,149.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the company’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 completion of the sale, the senior vice president now directly owns 23,381 shares in the company, 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 ninety days, insiders sold 49,612 shares of company stock valued at $3,184,609. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $59.90 on Monday. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The stock has a market capitalization of $7.76 billion, a PE ratio of 16.69, a PEG ratio of 2.93 and a beta of 0.74. The business’s 50-day moving average is $61.00 and its 200 day moving average is $57.81.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.92 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were issued a $0.27 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.80%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Jefferies Financial Group boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.71.

Commerce Bancshares 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.