Creative Planning Has $15.15 Million Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Creative Planning cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,105 shares of the financial services provider’s stock after selling 4,853 shares during the quarter. Creative Planning owned approximately 0.20% of Commerce Bancshares worth $15,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after acquiring an additional 259,127 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Commerce Bancshares during the second quarter valued at about $1,226,000. Marshall Financial Group LLC bought a new stake in shares of Commerce Bancshares during the second quarter worth about $1,006,000. Sei Investments Co. increased its stake in shares of Commerce Bancshares by 15.7% in the first quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock valued at $33,055,000 after buying an additional 84,433 shares during the period. Finally, Tidal Investments LLC raised its holdings in Commerce Bancshares by 181.3% in the 1st quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after buying an additional 11,540 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $61.35 on Tuesday. The stock’s 50-day moving average is $61.10 and its 200 day moving average is $58.11. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 3.07 and a beta of 0.74.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Analysts Set New Price Targets

Several brokerages have issued reports on CBSH. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Financial Group increased their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.79.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the sale, the chief executive officer now directly owns 198,298 shares in the company, valued at approximately $12,932,995.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Robert S. Holmes sold 3,795 shares of Commerce Bancshares stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,125 shares of company stock worth $1,879,856 in the last quarter. Company insiders own 3.20% of the company’s stock.

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.