Commerce Bancshares, Inc. (NASDAQ:CBSH) Stake Cut by US Bancorp DE

US Bancorp DE lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 6.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 116,681 shares of the financial services provider's stock after selling 8,560 shares during the quarter. US Bancorp DE owned about 0.09% of Commerce Bancshares worth $6,931,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Commerce Bancshares by 2.1% during the 1st 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. American Century Companies Inc. lifted its position in Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider's stock worth $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider's stock worth $115,453,000 after acquiring an additional 342,793 shares in the last quarter. Boston Trust Walden Corp lifted its position in Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider's stock worth $70,339,000 after acquiring an additional 168,550 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider's stock worth $34,846,000 after acquiring an additional 3,391 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Trading Down 0.2 %

CBSH traded down $0.15 during trading on Monday, reaching $62.50. 448,611 shares of the company were exchanged, compared to its average volume of 530,661. The stock has a market cap of $8.06 billion, a P/E ratio of 16.26, a PEG ratio of 3.09 and a beta of 0.73. The firm has a 50 day moving average of $61.22 and a 200 day moving average of $58.79. Commerce Bancshares, Inc. has a 52 week low of $42.48 and a 52 week high of $65.86.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.73%. Commerce Bancshares's payout ratio is 28.13%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, July 22nd. Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of "Hold" and an average price target of $61.79.

Insider Transactions at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of the 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 of the company's stock, valued at approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman David W. Kemper sold 30,000 shares of the company'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 sale, the chairman now owns 1,151,994 shares in the company, valued at $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John K. Handy sold 1,331 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total value of $84,917.80. Following the completion of the sale, the executive vice president now owns 41,548 shares of the company's stock, valued at approximately $2,650,762.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,831 shares of company stock valued at $2,154,008. 3.20% of the stock is currently owned by corporate insiders.

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.