Sanctuary Advisors LLC Raises Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sanctuary Advisors LLC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 35.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,924 shares of the financial services provider's stock after acquiring an additional 11,247 shares during the period. Sanctuary Advisors LLC's holdings in Commerce Bancshares were worth $2,550,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Commerce Bancshares during the second quarter valued at about $436,000. Raymond James & Associates boosted its stake in shares of Commerce Bancshares by 7.9% in the second quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider's stock worth $7,560,000 after acquiring an additional 9,881 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Commerce Bancshares in the second quarter worth about $197,000. &PARTNERS bought a new position in shares of Commerce Bancshares in the second quarter worth about $396,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider's stock worth $1,724,000 after acquiring an additional 154 shares during the period. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CBSH shares. Wells Fargo & Company upped their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. 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. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.07.

Commerce Bancshares Stock Performance

CBSH stock traded down $2.84 during midday trading on Wednesday, reaching $63.87. 665,096 shares of the company traded hands, compared to its average volume of 553,969. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The business has a 50 day moving average of $67.09 and a 200-day moving average of $62.07. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The firm 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%. Research analysts anticipate that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. Commerce Bancshares's dividend payout ratio is 28.13%.

Insider Buying and Selling

In other news, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company's stock, valued at approximately $71,170,189.32. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,816 shares of company stock valued at $2,397,816 over the last quarter. 3.10% of the stock is owned by corporate insiders.

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.