Janney Montgomery Scott LLC Acquires 472 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Janney Montgomery Scott LLC raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 267,937 shares of the financial services provider’s stock after buying an additional 472 shares during the quarter. Janney Montgomery Scott LLC owned about 0.21% of Commerce Bancshares worth $15,915,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP lifted its stake in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the period. Bessemer Group Inc. lifted its stake 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 buying an additional 390 shares during the period. GAMMA Investing LLC grew its position in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after buying an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the period. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Up 1.3 %

Shares of Commerce Bancshares stock opened at $63.31 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $42.48 and a 12-month high of $65.86. The stock has a market capitalization of $8.16 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 3.10 and a beta of 0.73. The company has a 50-day simple moving average of $61.21 and a 200 day simple moving average of $58.86.

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 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Insider Activity

In related news, EVP John K. Handy sold 1,331 shares of the 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 sale, the executive vice president now directly owns 41,548 shares in the company, valued at $2,650,762.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’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 transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John K. Handy sold 1,331 shares of the company’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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,831 shares of company stock worth $2,154,008. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.79.

Commerce Bancshares 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.