Wilmington Savings Fund Society FSB Invests $475,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Wilmington Savings Fund Society FSB acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,004 shares of the financial services provider's stock, valued at approximately $475,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP grew its holdings in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 192 shares during the period. Capital Performance Advisors LLP purchased a new stake in Commerce Bancshares in the third quarter worth $39,000. True Wealth Design LLC bought a new stake in shares of Commerce Bancshares in the third quarter valued at $47,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock valued at $52,000 after buying an additional 287 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 888 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares of the company's stock, valued at approximately $579,539.80. This represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares of the company's stock, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,816 shares of company stock worth $2,330,126. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Down 1.6 %

NASDAQ:CBSH traded down $1.10 during trading hours on Tuesday, hitting $66.71. 611,135 shares of the company's stock traded hands, compared to its average volume of 553,512. The firm has a market cap of $8.55 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.92 and a beta of 0.77. The business's fifty day simple moving average is $66.80 and its two-hundred day simple moving average is $61.98. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping 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 company had revenue of $421.38 million for the quarter, compared to analysts' expectations of $412.85 million. On average, analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio (DPR) is currently 28.13%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBSH. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. 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. 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. Finally, Wells Fargo & Company increased their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.07.

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.