Sound Stewardship LLC Purchases 163 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sound Stewardship LLC lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,339 shares of the financial services provider’s stock after buying an additional 163 shares during the period. Sound Stewardship LLC’s holdings in Commerce Bancshares were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at $26,000. Allworth Financial LP boosted 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 acquiring an additional 192 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC grew its holdings in Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after buying an additional 521 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its position in Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 974 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $61.82 on Monday. The firm has a market capitalization of $7.97 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 3.03 and a beta of 0.74. The business has a 50 day simple moving average of $61.18 and a two-hundred day simple moving average of $58.41. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.75%. Commerce Bancshares’s payout ratio is currently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other news, CFO Charles G. Kim sold 5,282 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $65.00, for a total transaction of $343,330.00. Following the completion of the sale, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares stock in a transaction on Monday, August 12th. The stock was sold at an average price of $60.82, for a total transaction of $91,230.00. Following the completion of the sale, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at $1,543,672.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles G. Kim sold 5,282 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 89,472 shares in the company, valued at $5,815,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,750 shares of company stock valued at $2,733,631 in the last quarter. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Commerce Bancshares 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.