8,004 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,004 shares of the financial services provider’s stock, valued at approximately $475,000.

A number of other large investors have also added to or reduced their stakes in CBSH. V Square Quantitative Management LLC bought a new stake in Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% during the 3rd 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. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at about $39,000. True Wealth Design LLC purchased a new position in Commerce Bancshares in the third quarter worth about $47,000. Finally, Farther Finance Advisors LLC increased its stake in Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.4 %

Shares of CBSH opened at $67.81 on Tuesday. The firm has a fifty day moving average price of $66.80 and a 200-day moving average price of $61.98. The firm has a market capitalization of $8.70 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

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 paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.59%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Insiders Place Their Bets

In other Commerce Bancshares 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 transaction of $1,853,400.00. Following the transaction, the chairman now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at $579,539.80. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,816 shares of company stock worth $2,330,126 in the last ninety days. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CBSH has been the subject of several analyst reports. Morgan Stanley lowered 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 shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.07.

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.