784 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Acquired by True Wealth Design LLC

True Wealth Design LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 784 shares of the financial services provider’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CBSH. V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP increased its position in shares of 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 in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares during the 3rd quarter valued at $39,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after buying an additional 287 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBSH shares. Morgan Stanley downgraded 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. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.79.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $73.75 on Monday. The company’s fifty day moving average price is $64.66 and its 200-day moving average price is $60.94. Commerce Bancshares, Inc. has a 1-year low of $47.28 and a 1-year high of $76.39. The firm has a market capitalization of $9.46 billion, a P/E ratio of 19.21, a PEG ratio of 3.98 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Equities analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared 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. This represents a $1.08 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In related news, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total value of $84,917.80. Following the completion of the transaction, the executive vice president now directly owns 41,548 shares in the company, valued at $2,650,762.40. The trade was a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David L. Roller sold 890 shares of the firm’s 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 sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,109 shares of company stock valued at $2,191,123. 3.10% of the stock is owned by company insiders.

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.