27,195 Commerce Bancshares, Inc. $CBSH Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 26.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,926 shares of the financial services provider’s stock after selling 27,195 shares during the quarter. Vest Financial LLC’s holdings in Commerce Bancshares were worth $4,047,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Commerce Bancshares by 146.6% in the third quarter. Versant Capital Management Inc now owns 508 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 302 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Commerce Bancshares during the 2nd quarter worth approximately $29,000. Root Financial Partners LLC increased its stake in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after buying an additional 319 shares during the period. Continuum Advisory LLC purchased a new stake in Commerce Bancshares during the 2nd quarter worth approximately $64,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Commerce Bancshares during the 2nd quarter worth approximately $93,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, VP David Orf sold 642 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total transaction of $38,744.70. Following the sale, the vice president owned 24,962 shares of the company’s stock, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Neff sold 666 shares of Commerce Bancshares stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the sale, the senior vice president owned 11,746 shares in the company, valued at $683,029.90. This represents a 5.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,950 shares of company stock valued at $1,963,777 in the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CBSH shares. Morgan Stanley raised their price target on shares of Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. TD Cowen reiterated a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Finally, Stephens set a $62.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.64.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $56.07 on Friday. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92. The stock has a market cap of $8.04 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.70 and a beta of 0.60. The stock has a 50-day simple moving average of $56.77 and a 200-day simple moving average of $55.55.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. Commerce Bancshares had a return on equity of 14.27% and a net margin of 26.06%. The business had revenue of $494.34 million for the quarter, compared to analyst estimates of $496.75 million. During the same quarter last year, the company earned $1.06 EPS. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 4.28 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th were paid a $0.2750 dividend. This represents a $1.10 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, September 4th. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.