Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 123,502 shares of the financial services provider’s stock after selling 4,563 shares during the period. Stifel Financial Corp’s holdings in Commerce Bancshares were worth $7,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares during the third quarter worth about $26,000. Allworth Financial LP lifted 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 during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the third quarter worth about $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CBSH. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.07.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. This trade represents a 7.88 % 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, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,816 shares of company stock worth $2,454,586. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Trading Down 0.2 %

Shares of NASDAQ:CBSH opened at $67.53 on Friday. The firm’s 50 day moving average is $66.60 and its two-hundred day moving average is $61.79. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The firm has a market capitalization of $8.66 billion, a P/E ratio of 17.59, a PEG ratio of 2.95 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 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.60%. Commerce Bancshares’s payout ratio is currently 28.13%.

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.