Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,797 shares of the financial services provider's stock after purchasing an additional 10,749 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Commerce Bancshares were worth $1,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Commerce Bancshares by 7.3% during the 3rd 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider's stock worth $115,453,000 after purchasing an additional 342,793 shares during the last quarter. NFJ Investment Group LLC increased its position in shares of Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider's stock worth $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider's stock valued at $34,846,000 after purchasing an additional 3,391 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Commerce Bancshares by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider's stock valued at $31,653,000 after purchasing an additional 13,772 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares of the company's stock, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 30,949 shares in the company, valued at $2,236,684.23. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,398 shares of company stock valued at $2,504,665. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CBSH has been the topic of several research analyst reports. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Monday. Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Finally, Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of "Hold" and an average price target of $66.75.

Commerce Bancshares Trading Up 1.3 %

Shares of NASDAQ:CBSH traded up $0.85 during midday trading on Wednesday, hitting $64.31. The stock had a trading volume of 544,834 shares, compared to its average volume of 501,859. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The stock has a 50 day moving average price of $67.47 and a two-hundred day moving average price of $63.28. The company has a market capitalization of $8.25 billion, a PE ratio of 16.75, a P/E/G ratio of 2.92 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analysts' expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares's payout ratio is 28.13%.

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.