Mutual Advisors LLC Has $27.83 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mutual Advisors LLC lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 452,267 shares of the financial services provider’s stock after selling 1,144 shares during the quarter. Commerce Bancshares accounts for 0.8% of Mutual Advisors LLC’s holdings, making the stock its 18th biggest position. Mutual Advisors LLC’s holdings in Commerce Bancshares were worth $27,828,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Commerce Bancshares by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares during the period. Dimensional Fund Advisors LP lifted its stake in Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after purchasing an additional 168,550 shares during the period. Finally, Sei Investments Co. increased its position in Commerce Bancshares by 0.5% during the second quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock worth $34,846,000 after buying an additional 3,391 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $62.45 on Wednesday. The firm has a 50-day moving average of $61.20 and a 200-day moving average of $58.56. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86. The stock has a market cap of $8.05 billion, a PE ratio of 16.26, a PEG ratio of 3.03 and a beta of 0.74.

Commerce Bancshares Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group upped their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $61.79.

Insiders Place Their Bets

In other news, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the sale, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $60.82, for a total transaction of $91,230.00. Following the sale, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,831 shares of company stock worth $2,154,008 in 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.