8,534 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, HoldingsChannel.com reports. The fund purchased 8,534 shares of the financial services provider’s stock, valued at approximately $507,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in 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 worth $672,004,000 after purchasing an additional 259,127 shares during the period. SG Americas Securities LLC bought a new stake in shares of Commerce Bancshares in the second quarter worth $1,226,000. Marshall Financial Group LLC purchased a new stake in Commerce Bancshares during the second quarter valued at $1,006,000. Tidal Investments LLC lifted its holdings in Commerce Bancshares by 181.3% in the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 11,540 shares during the period. Finally, Cetera Investment Advisers boosted its position in Commerce Bancshares by 138.3% in the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after purchasing an additional 18,496 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares in the company, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,109 shares of company stock worth $2,191,123 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $71.81 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $47.19 and a fifty-two week high of $73.31. The company has a market capitalization of $9.21 billion, a P/E ratio of 18.70, a P/E/G ratio of 3.87 and a beta of 0.73. The company has a fifty day moving average of $63.28 and a 200 day moving average of $60.18.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm 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%. Analysts forecast that Commerce Bancshares, Inc. will post 4.02 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. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is presently 28.13%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CBSH shares. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.79.

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.