Exchange Traded Concepts LLC reduced its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 25.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 987 shares of the financial services provider’s stock after selling 339 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Commerce Bancshares were worth $59,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CBSH. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Commerce Bancshares by 0.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 154 shares in the last quarter. Fulton Bank N.A. increased its stake in Commerce Bancshares by 5.8% during the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 359 shares during the period. Bessemer Group Inc. grew its stake in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares in the last quarter. Lindenwold Advisors INC grew its holdings in Commerce Bancshares by 4.1% during the 1st quarter. Lindenwold Advisors INC now owns 10,692 shares of the financial services provider’s stock worth $569,000 after acquiring an additional 426 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Commerce Bancshares by 1.4% in the second quarter. Arizona State Retirement System now owns 34,542 shares of the financial services provider’s stock valued at $1,927,000 after buying an additional 470 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Commerce Bancshares
In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. 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 through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total value of $84,917.80. Following the transaction, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 20,174 shares of company stock valued at $1,297,855. Insiders own 3.20% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on Commerce Bancshares
Commerce Bancshares Stock Up 0.3 %
CBSH opened at $61.90 on Thursday. The company has a market cap of $8.02 billion, a P/E ratio of 17.24, a P/E/G ratio of 3.07 and a beta of 0.74. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86. The company has a 50 day moving average of $61.15 and a two-hundred day moving average of $58.23.
Commerce Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.08%.
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.
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