Cornerstone Wealth Management LLC Has $848,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cornerstone Wealth Management LLC lessened its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,276 shares of the financial services provider’s stock after selling 800 shares during the period. Cornerstone Wealth Management LLC’s holdings in Commerce Bancshares were worth $848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Commerce Bancshares by 0.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 154 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Commerce Bancshares by 5.8% during the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider’s stock valued at $388,000 after buying an additional 359 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares during the last quarter. Lindenwold Advisors INC raised its position in shares of Commerce Bancshares by 4.1% during the first quarter. Lindenwold Advisors INC now owns 10,692 shares of the financial services provider’s stock valued at $569,000 after buying an additional 426 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Commerce Bancshares by 1.4% during the second quarter. Arizona State Retirement System now owns 34,542 shares of the financial services provider’s stock valued at $1,927,000 after buying an additional 470 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $60.82, for a total transaction of $91,230.00. Following the transaction, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. 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 accessible through this link. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $60.82, for a total transaction of $91,230.00. Following the transaction, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. 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 accessible through this link. Also, EVP Robert S. Holmes sold 3,795 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at $3,256,471.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,612 shares of company stock worth $3,184,609. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CBSH shares. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company upped their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.71.

Commerce Bancshares Trading Down 0.9 %

Shares of Commerce Bancshares stock opened at $61.11 on Friday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 3.02 and a beta of 0.74. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86. The firm’s 50-day moving average price is $61.09 and its two-hundred day moving average price is $57.97.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.77%. Commerce Bancshares’s payout ratio is 29.31%.

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.