Raymond James Trust N.A. Boosts Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Raymond James Trust N.A. raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,452 shares of the financial services provider’s stock after purchasing an additional 292 shares during the period. Raymond James Trust N.A.’s holdings in Commerce Bancshares were worth $264,000 at the end of the most recent reporting period.

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

Commerce Bancshares Trading Down 0.1 %

Shares of CBSH opened at $73.88 on Thursday. Commerce Bancshares, Inc. has a twelve month low of $47.19 and a twelve month high of $76.39. The firm has a market capitalization of $9.47 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73. The stock’s fifty day simple moving average is $64.00 and its 200 day simple moving average is $60.60.

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, topping analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for 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%. Sell-side analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.46%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Transactions at Commerce Bancshares

In related news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,109 shares of company stock valued at $2,191,123 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CBSH. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.