Townsquare Capital LLC Acquires 543 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Townsquare Capital LLC raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,358 shares of the financial services provider’s stock after acquiring an additional 543 shares during the quarter. Townsquare Capital LLC’s holdings in Commerce Bancshares were worth $675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Commerce Bancshares during the second quarter valued at about $1,226,000. Marshall Financial Group LLC bought a new position in shares of Commerce Bancshares during the 2nd quarter worth approximately $1,006,000. Tidal Investments LLC lifted its position in Commerce Bancshares by 181.3% during the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 11,540 shares during the last quarter. Cetera Investment Advisers boosted its stake in Commerce Bancshares by 138.3% in the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock valued at $1,696,000 after acquiring an additional 18,496 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Commerce Bancshares in the second quarter worth $436,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

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 transaction, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 7.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,778 shares of company stock worth $2,106,205 in the last three months. 3.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CBSH has been the subject of several analyst reports. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company upped their target price on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.50.

Commerce Bancshares Trading Down 1.3 %

NASDAQ:CBSH opened at $68.75 on Wednesday. Commerce Bancshares, Inc. has a twelve month low of $46.86 and a twelve month high of $72.75. The company has a market cap of $8.82 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.95 and a beta of 0.77. The company’s 50-day moving average price is $64.89 and its 200-day moving average price is $61.08.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, analysts expect that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

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.