Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Lindenwold Advisors INC

Lindenwold Advisors INC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,760 shares of the financial services provider’s stock after buying an additional 309 shares during the period. Lindenwold Advisors INC’s holdings in Commerce Bancshares were worth $639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after buying an additional 259,127 shares during the period. American Century Companies Inc. lifted its holdings in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after purchasing an additional 342,793 shares during the period. Boston Trust Walden Corp increased its holdings in Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after purchasing an additional 168,550 shares in the last quarter. Finally, Sei Investments Co. raised its position in Commerce Bancshares by 0.5% in the second quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after purchasing an additional 3,391 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. This trade represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,219 shares of company stock worth $2,126,803. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBSH. Wells Fargo & Company increased their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $61.79.

Commerce Bancshares Trading Up 0.8 %

Shares of NASDAQ:CBSH opened at $72.11 on Tuesday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 3.87 and a beta of 0.73. Commerce Bancshares, Inc. has a 1 year low of $46.72 and a 1 year high of $73.31. The business has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $59.91.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

About Commerce Bancshares

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.