Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lessened its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,249,028 shares of the financial services provider’s stock after selling 11,971 shares during the period. Boston Trust Walden Corp owned approximately 0.97% of Commerce Bancshares worth $74,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares in the last quarter. SG Americas Securities LLC bought a new stake in Commerce Bancshares during the second quarter worth approximately $1,226,000. Marshall Financial Group LLC bought a new stake in Commerce Bancshares during the second quarter worth approximately $1,006,000. Sei Investments Co. grew its position in Commerce Bancshares by 15.7% in the first quarter. Sei Investments Co. now owns 621,324 shares of the financial services provider’s stock worth $33,055,000 after buying an additional 84,433 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Commerce Bancshares by 181.3% in the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after buying an additional 11,540 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,535 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $65.16, for a total value of $100,020.60. Following the completion of the sale, the director now owns 2,722 shares of the company’s stock, valued at $177,365.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Patricia R. Kellerhals sold 1,500 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the transaction, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director June Mcallister Fowler sold 1,535 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.16, for a total transaction of $100,020.60. Following the transaction, the director now directly owns 2,722 shares of the company’s stock, valued at approximately $177,365.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,174 shares of company stock valued at $3,151,255 over the last three months. 3.20% of the stock is currently owned by insiders.

Commerce Bancshares Stock Down 0.5 %

CBSH stock traded down $0.33 during trading hours on Friday, hitting $61.20. The company’s stock had a trading volume of 539,677 shares, compared to its average volume of 529,754. The stock has a 50 day moving average price of $61.18 and a two-hundred day moving average price of $58.33. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The company has a market capitalization of $7.93 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.05 and a beta of 0.74.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.76%. Commerce Bancshares’s dividend payout ratio is presently 30.08%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Jefferies Financial Group boosted their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.