Cwm LLC Has $7.81 Million Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

12 Oct 2024, 09:07 by Renee Jackson · The Cerbat Gem

Cwm LLC increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,524 shares of the financial services provider’s stock after buying an additional 1,004 shares during the period. Cwm LLC owned 0.10% of Commerce Bancshares worth $7,813,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fulton Bank N.A. lifted its position in shares of Commerce Bancshares by 5.8% during the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 359 shares in the last quarter. Handelsbanken Fonder AB raised its position in Commerce Bancshares by 9.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 29,628 shares of the financial services provider’s stock worth $1,760,000 after purchasing an additional 2,600 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Commerce Bancshares during the 2nd quarter worth $1,755,000. Cetera Investment Advisers boosted its position in Commerce Bancshares by 77.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider’s stock valued at $3,148,000 after buying an additional 24,569 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at $693,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related 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 sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Orf sold 2,102 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total value of $136,272.66. Following the completion of the transaction, the vice president now owns 19,140 shares of the company’s stock, valued at approximately $1,240,846.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,612 shares of company stock valued at $3,184,609 in the last quarter. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Jefferies Financial Group raised their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.71.

Check Out Our Latest Stock Report on CBSH

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $59.90 on Friday. The business’s 50-day simple moving average is $61.00 and its 200-day simple moving average is $57.74. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $65.86. The stock has a market capitalization of $7.72 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.93 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.92 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.80%. The ex-dividend date was Thursday, September 5th. Commerce Bancshares’s payout ratio is 29.31%.

Commerce Bancshares Profile

(Free Report)