Sanctuary Advisors LLC Grows Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sanctuary Advisors LLC raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 35.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,924 shares of the financial services provider’s stock after buying an additional 11,247 shares during the period. Sanctuary Advisors LLC’s holdings in Commerce Bancshares were worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at about $26,000. Allworth Financial LP lifted its position in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $39,000. True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.07.

Commerce Bancshares Stock Down 1.6 %

NASDAQ CBSH opened at $66.71 on Wednesday. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The firm has a market cap of $8.55 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77. The company has a 50 day moving average price of $66.98 and a 200 day moving average price of $62.05.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. Commerce Bancshares’s payout ratio is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This represents a 2.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,816 shares of company stock worth $2,330,126. 3.10% of the stock is owned by corporate insiders.

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.