Atwood & Palmer Inc. Raises Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Atwood & Palmer Inc. boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,986 shares of the financial services provider’s stock after purchasing an additional 2,119 shares during the quarter. Atwood & Palmer Inc. owned about 0.06% of Commerce Bancshares worth $4,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mountain Pacific Investment Advisers LLC lifted its stake in Commerce Bancshares by 3.1% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 33,531 shares of the financial services provider’s stock worth $2,089,000 after purchasing an additional 1,016 shares in the last quarter. UMB Bank n.a. boosted its stake in Commerce Bancshares by 4.0% during the fourth quarter. UMB Bank n.a. now owns 261,234 shares of the financial services provider’s stock worth $16,278,000 after buying an additional 10,000 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 6,661 shares of the financial services provider’s stock worth $415,000 after buying an additional 317 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Commerce Bancshares in the 4th quarter valued at $206,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of Commerce Bancshares by 3.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 32,409 shares of the financial services provider’s stock worth $2,019,000 after acquiring an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBSH. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $66.75.

Commerce Bancshares Stock Up 1.7 %

Shares of Commerce Bancshares stock opened at $64.85 on Tuesday. The company has a market capitalization of $8.32 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a 50 day moving average of $67.04 and a 200 day moving average of $63.53. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.67%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the business’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 value of $64,320.30. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at $4,417,723.86. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,398 shares of company stock valued at $651,265 in the last ninety days. Insiders own 3.10% of the company’s stock.

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.