Benjamin Edwards Inc. Buys 8,354 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Benjamin Edwards Inc. grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 55,693.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,369 shares of the financial services provider's stock after purchasing an additional 8,354 shares during the quarter. Benjamin Edwards Inc.'s holdings in Commerce Bancshares were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Commerce Bancshares in the second quarter valued at about $1,226,000. Marshall Financial Group LLC purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at approximately $1,006,000. Cetera Investment Advisers increased its holdings in shares of Commerce Bancshares by 138.3% in the first 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 during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Commerce Bancshares during the second quarter worth approximately $436,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Commerce Bancshares during the second quarter worth $522,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CBSH. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Morgan Stanley cut Commerce Bancshares from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a "neutral" rating in a 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.07.

Commerce Bancshares Stock Down 1.1 %

Shares of CBSH traded down $0.73 during mid-day trading on Monday, hitting $68.02. 461,735 shares of the company's stock were exchanged, compared to its average volume of 556,472. The firm has a fifty day moving average of $65.76 and a two-hundred day moving average of $61.52. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 3.74 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly 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. 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 analyst estimates of $412.85 million. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.98 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares's payout ratio is presently 28.13%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the stock in a transaction dated Monday, November 18th. The shares were 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. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the firm's 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 transaction, the chairman now owns 1,151,994 shares in the company, valued at $71,170,189.32. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,316 shares of company stock valued at $2,420,311 over the last quarter. 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.