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Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Cetera Advisor Networks LLC

Defense World · Sep 6, 2022 05:21

Cetera Advisor Networks LLC boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,761 shares of the financial services provider's stock after purchasing an additional 200 shares during the period. Cetera Advisor Networks LLC's holdings in Commerce Bancshares were worth $842,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Commerce Bancshares by 81.8% in the 1st quarter. Quadrant Capital Group LLC now owns 651 shares of the financial services provider's stock worth $47,000 after buying an additional 293 shares during the period. Signaturefd LLC increased its position in Commerce Bancshares by 36.0% during the 1st quarter. Signaturefd LLC now owns 672 shares of the financial services provider's stock worth $48,000 after purchasing an additional 178 shares in the last quarter. National Bank of Canada FI raised its holdings in Commerce Bancshares by 71.8% in the first quarter. National Bank of Canada FI now owns 725 shares of the financial services provider's stock valued at $52,000 after buying an additional 303 shares during the period. Point72 Hong Kong Ltd lifted its position in Commerce Bancshares by 274.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 819 shares of the financial services provider's stock valued at $56,000 after buying an additional 600 shares in the last quarter. Finally, MCF Advisors LLC acquired a new stake in shares of Commerce Bancshares in the first quarter worth $96,000. Institutional investors and hedge funds own 68.76% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Commerce Bancshares to $71.00 in a report on Monday, July 25th. Jefferies Financial Group reduced their price objective on Commerce Bancshares from $75.00 to $71.00 in a research note on Monday, July 11th. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, July 18th.

Insider Buying and Selling at Commerce Bancshares

In related news, Director Blackford F. Brauer purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, June 10th. The stock was acquired at an average price of $65.85 per share, for a total transaction of $329,250.00. Following the completion of the purchase, the director now owns 11,027 shares in the company, valued at $726,127.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Robert S. Holmes sold 2,000 shares of Commerce Bancshares stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $70.45, for a total value of $140,900.00. Following the completion of the transaction, the executive vice president now directly owns 43,058 shares in the company, valued at $3,033,436.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blackford F. Brauer purchased 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average price of $65.85 per share, with a total value of $329,250.00. Following the completion of the purchase, the director now directly owns 11,027 shares of the company's stock, valued at approximately $726,127.95. The disclosure for this purchase can be found here. Insiders have sold a total of 6,474 shares of company stock valued at $464,244 in the last three months. Corporate insiders own 3.20% of the company's stock.

Commerce Bancshares Trading Down 0.6 %

Shares of CBSH stock opened at $68.39 on Tuesday. The firm has a fifty day simple moving average of $69.08 and a 200-day simple moving average of $69.30. The company has a market capitalization of $8.20 billion, a PE ratio of 17.67 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $61.81 and a twelve month high of $74.72.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $371.80 million for the quarter, compared to analyst estimates of $362.50 million. Commerce Bancshares had a net margin of 32.88% and a return on equity of 14.98%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post 4.04 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.265 per share. The ex-dividend date is Tuesday, September 6th. This represents a $1.06 annualized dividend and a yield of 1.55%. Commerce Bancshares's dividend payout ratio is presently 27.39%.

Commerce Bancshares Profile

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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.