Teachers Advisors LLC decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 110,086 shares of the financial services provider’s stock after selling 2,775 shares during the period. Teachers Advisors LLC owned 0.10% of Commerce Bancshares worth $7,268,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CBSH. Acadian Asset Management LLC raised its holdings in shares of Commerce Bancshares by 224.3% in the 3rd quarter. Acadian Asset Management LLC now owns 1,842 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,274 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $203,000. Natixis purchased a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $207,000. Caxton Associates LP purchased a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $230,000. Finally, Mutual Advisors LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $237,000. 60.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Commerce Bancshares stock opened at $57.97 on Monday. The stock has a market cap of $6.50 billion, a PE ratio of 21.96, a PEG ratio of 1.79 and a beta of 0.75. Commerce Bancshares, Inc. has a 12 month low of $53.40 and a 12 month high of $72.55.
The business also recently declared a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Friday, November 30th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.94 annualized dividend and a yield of 1.62%. Commerce Bancshares’s payout ratio is 35.61%.
In related news, insider Jeffrey M. Burik sold 7,737 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $64.23, for a total transaction of $496,947.51. Following the transaction, the insider now directly owns 28,398 shares in the company, valued at approximately $1,824,003.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel D. Callahan sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $65.91, for a total value of $98,865.00. Following the transaction, the insider now owns 26,036 shares in the company, valued at $1,716,032.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,540 shares of company stock worth $745,554. 4.00% of the stock is owned by corporate insiders.
CBSH has been the topic of several recent research reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, October 17th. Barclays reiterated a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a research report on Friday. Stephens reiterated a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, December 19th. ValuEngine lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.88.
About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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