Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Sound Stewardship LLC

Sound Stewardship LLC increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,339 shares of the financial services provider’s stock after purchasing an additional 163 shares during the quarter. Sound Stewardship LLC’s holdings in Commerce Bancshares were worth $258,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP boosted its holdings in 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 purchasing an additional 192 shares during the last quarter. Bessemer Group Inc. grew 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 purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares during 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 during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CBSH. Jefferies Financial Group raised their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Stock Performance

CBSH opened at $61.82 on Monday. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86. The stock has a market capitalization of $7.97 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 3.03 and a beta of 0.74. The stock’s 50 day moving average price is $61.18 and its 200-day moving average price is $58.41.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.75%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Buying and Selling

In related news, CFO Charles G. Kim sold 5,282 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at $5,815,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Charles G. Kim sold 5,282 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was 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 directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,750 shares of company stock valued at $2,733,631 over the last ninety days. Company insiders own 3.10% of the company’s stock.

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.