Nicholson Wealth Management Group LLC Purchases Shares of 12,302 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nicholson Wealth Management Group LLC acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,302 shares of the financial services provider’s stock, valued at approximately $731,000.

A number of other hedge funds have also made changes to their positions in CBSH. CENTRAL TRUST Co boosted its holdings in Commerce Bancshares by 3.4% in the third quarter. CENTRAL TRUST Co now owns 34,767 shares of the financial services provider’s stock valued at $2,065,000 after purchasing an additional 1,139 shares in the last quarter. Verde Capital Management acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at $201,000. Raymond James & Associates grew its position in shares of Commerce Bancshares by 5.5% in the 3rd quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after buying an additional 7,512 shares during the last quarter. Blue Trust Inc. raised its stake in Commerce Bancshares by 12,340.0% during the 3rd quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in Commerce Bancshares in the third quarter valued at $219,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP John K. Handy sold 6,424 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $65.01, for a total transaction of $417,624.24. Following the completion of the transaction, the executive vice president now directly owns 42,728 shares of the company’s stock, valued at $2,777,747.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Commerce Bancshares news, EVP John K. Handy sold 6,424 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $65.01, for a total value of $417,624.24. Following the completion of the transaction, the executive vice president now owns 42,728 shares in the company, valued at approximately $2,777,747.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the sale, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,174 shares of company stock valued at $3,151,255 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $61.53 on Friday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.05 and a beta of 0.74. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The company’s fifty day moving average is $61.19 and its two-hundred day moving average is $58.28.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBSH. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Jefferies Financial Group upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.