KBC Group NV Has $218,000 Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

KBC Group NV grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 23.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,669 shares of the financial services provider’s stock after purchasing an additional 703 shares during the quarter. KBC Group NV’s holdings in Commerce Bancshares were worth $218,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 2.1% during the first 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 bought a new position in shares of Commerce Bancshares in the second quarter valued at $1,226,000. Marshall Financial Group LLC acquired a new position in shares of Commerce Bancshares during the second quarter valued at about $1,006,000. Tidal Investments LLC increased its position in shares of Commerce Bancshares by 181.3% during the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock worth $953,000 after acquiring an additional 11,540 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Commerce Bancshares by 138.3% in the 1st quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 18,496 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,109 shares of company stock worth $2,191,123. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CBSH. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Stock Performance

CBSH opened at $70.97 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $46.72 and a fifty-two week high of $73.31. The firm has a 50-day moving average of $63.07 and a 200 day moving average of $60.10. The firm has a market cap of $9.10 billion, a P/E ratio of 18.48, a PEG ratio of 3.89 and a beta of 0.73.

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, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Equities research analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.52%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

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.