Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Holdings Boosted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSHFree Report) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,498 shares of the financial services provider’s stock after purchasing an additional 355 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Commerce Bancshares were worth $1,190,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the third quarter worth about $26,000. Allworth Financial LP raised its holdings in shares of Commerce Bancshares by 51.1% in the 3rd 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 acquired a new stake in Commerce Bancshares during the third quarter valued at approximately $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares during the third quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC grew its position in Commerce Bancshares by 48.2% in the third 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. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $68.33 on Thursday. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The firm has a market cap of $8.76 billion, a PE ratio of 17.79, a P/E/G ratio of 3.74 and a beta of 0.77. The firm’s 50 day moving average price is $66.21 and its two-hundred day moving average price is $61.66.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.98 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed 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 1.58%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is presently 28.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBSH. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report 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. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $65.07.

Get Our Latest Analysis on Commerce Bancshares

Insider Activity

In other news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the completion of the sale, the senior vice president now owns 22,265 shares of the company’s stock, valued at $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,816 shares of company stock worth $2,454,586. 3.10% of the stock is owned by corporate insiders.

Commerce Bancshares Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.