Farther Finance Advisors LLC Has $52,000 Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Farther Finance Advisors LLC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 48.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 882 shares of the financial services provider’s stock after purchasing an additional 287 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commerce Bancshares were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBSH. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $26,000. Allworth Financial LP raised its stake 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 valued at $34,000 after purchasing an additional 192 shares during the period. Bessemer Group Inc. increased its position in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its position in shares of Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 974 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.4 %

Shares of NASDAQ CBSH opened at $71.97 on Thursday. The business’s 50 day moving average price is $62.05 and its two-hundred day moving average price is $59.54. The company has a market cap of $9.23 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73. Commerce Bancshares, Inc. has a twelve month low of $44.48 and a twelve month high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The company had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analyst Ratings Changes

CBSH has been the topic of a number of recent research reports. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com raised 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $61.79.

Insider Transactions at Commerce Bancshares

In other news, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the sale, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. The trade was 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 hyperlink. In related news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 41,548 shares of the company’s stock, valued at approximately $2,650,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,331 shares of company stock worth $2,062,778 over the last quarter. Company insiders own 3.20% of the company’s stock.

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.