Pathstone Holdings LLC Has $1.72 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Pathstone Holdings LLC grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,020 shares of the financial services provider’s stock after acquiring an additional 1,492 shares during the quarter. Pathstone Holdings LLC’s holdings in Commerce Bancshares were worth $1,724,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 154 shares in the last quarter. Sound Stewardship LLC increased its position in shares of Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC lifted its position in Commerce Bancshares by 3.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 217 shares in the last quarter. Finally, Marshall Financial Group LLC boosted its stake in Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. 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 upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average price target of $61.79.

Insider Activity

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 transaction of $124,460.00. Following 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 7.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John K. Handy sold 1,331 shares of the firm’s 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 sale, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,109 shares of company stock valued at $2,191,123. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $73.88 on Thursday. The stock has a 50 day moving average price of $64.00 and a 200 day moving average price of $60.60. The stock has a market capitalization of $9.47 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73. Commerce Bancshares, Inc. has a 52 week low of $47.19 and a 52 week high of $76.39.

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

Commerce Bancshares Announces Dividend

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 paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.46%. 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.