Heartland Bank & Trust Co Has $289,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Heartland Bank & Trust Co lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,863 shares of the financial services provider’s stock after selling 469 shares during the quarter. Heartland Bank & Trust Co’s holdings in Commerce Bancshares were worth $289,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at approximately $1,226,000. Marshall Financial Group LLC acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at approximately $1,006,000. Sei Investments Co. boosted its holdings in shares of Commerce Bancshares by 15.7% in the 1st quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock valued at $33,055,000 after buying an additional 84,433 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Commerce Bancshares by 181.3% in the 1st quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after buying an additional 11,540 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $61.90 on Thursday. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.86. The stock has a market capitalization of $7.98 billion, a P/E ratio of 16.12, a PEG ratio of 3.05 and a beta of 0.74. The stock’s fifty day moving average is $61.19 and its 200 day moving average is $58.26.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analyst Ratings Changes

CBSH has been the subject of several research reports. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.79.

Insider Activity

In other news, CFO Charles G. Kim sold 5,282 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total transaction of $343,330.00. Following the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles G. Kim sold 5,282 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the completion of the transaction, the chief financial officer now directly owns 89,472 shares in the company, valued at approximately $5,815,680. This represents 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 20,174 shares of company stock valued at $1,297,855. 3.20% of the stock is currently owned by corporate 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.