Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,654 shares of the financial services provider’s stock after acquiring an additional 1,333 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Commerce Bancshares were worth $2,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after buying an additional 163,782 shares in the last quarter. M&T Bank Corp raised its holdings in Commerce Bancshares by 0.6% in the 3rd quarter. M&T Bank Corp now owns 63,756 shares of the financial services provider’s stock valued at $3,787,000 after acquiring an additional 372 shares during the last quarter. Barclays PLC raised its holdings in Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after acquiring an additional 17,400 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $1,967,000. Finally, MML Investors Services LLC boosted its holdings in shares of Commerce Bancshares by 22.1% during the 3rd quarter. MML Investors Services LLC now owns 9,902 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 1,794 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $68.33 on Wednesday. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75. The firm has a market cap of $8.76 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77. The company has a 50-day moving average of $65.98 and a two-hundred day moving average of $61.61.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating 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 firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.98 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company 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. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.58%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CBSH shares. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley cut shares of 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $65.07.

Insider Buying and Selling

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on 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 directly owns 30,949 shares of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,316 shares of company stock valued at $2,420,311. Corporate insiders own 3.10% of the company’s stock.

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.