Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Atwood & Palmer Inc.

Atwood & Palmer Inc. lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,986 shares of the financial services provider’s stock after buying an additional 2,119 shares during the quarter. Atwood & Palmer Inc.’s holdings in Commerce Bancshares were worth $4,485,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP boosted its stake 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 valued at $34,000 after acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares during the third quarter worth approximately $39,000. True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares in the third quarter valued at $47,000. Finally, Farther Finance Advisors LLC increased its stake in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $64.85 on Tuesday. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The stock has a 50-day moving average price of $67.04 and a 200 day moving average price of $63.53. 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.

Commerce Bancshares Dividend Announcement

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

Insider Transactions at Commerce Bancshares

In related news, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction on Tuesday, December 17th. The stock was 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 of the company’s stock, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,398 shares of company stock valued at $651,265. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley cut shares of 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. 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 Monday, January 13th. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $66.75.

About Commerce Bancshares

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.