Heartland Bank & Trust Co Sells 469 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Heartland Bank & Trust Co lessened its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,863 shares of the financial services provider’s stock after selling 469 shares during the quarter. Heartland Bank & Trust Co’s holdings in Commerce Bancshares were worth $289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBSH. Oak Thistle LLC bought a new stake in Commerce Bancshares in the 1st quarter valued at $270,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Commerce Bancshares by 93.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 805 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Commerce Bancshares by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 29,081 shares of the financial services provider’s stock valued at $1,547,000 after purchasing an additional 600 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Commerce Bancshares in the 1st quarter valued at $475,000. Finally, Kesler Norman & Wride LLC boosted its stake in shares of Commerce Bancshares by 2.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 47,463 shares of the financial services provider’s stock valued at $2,525,000 after purchasing an additional 1,246 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, CFO Charles G. Kim sold 5,282 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value 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 $5,815,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Charles G. Kim sold 5,282 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value 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 $5,815,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,174 shares of company stock valued at $1,297,855 in the last ninety days. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Up 0.3 %

Commerce Bancshares stock opened at $61.90 on Thursday. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The company has a market cap of $7.98 billion, a PE ratio of 16.12, a PEG ratio of 3.05 and a beta of 0.74. The company’s 50-day moving average is $61.19 and its two-hundred day moving average is $58.26.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. Commerce Bancshares’s payout ratio is presently 28.13%.

Analyst Upgrades and Downgrades

CBSH has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley downgraded 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. 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 upgraded 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.