abrdn plc Has $465,000 Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

abrdn plc reduced its stake in Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,085 shares of the financial services provider’s stock after selling 228 shares during the period. abrdn plc’s holdings in Commerce Bancshares were worth $465,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CBSH. Kestra Advisory Services LLC raised its holdings in Commerce Bancshares by 10.8% in the 1st quarter. Kestra Advisory Services LLC now owns 4,767 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 464 shares during the period. Advisor Partners LLC increased its stake in shares of Commerce Bancshares by 4.1% during the first quarter. Advisor Partners LLC now owns 3,628 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 144 shares during the period. New York State Teachers Retirement System bought a new position in shares of Commerce Bancshares during the first quarter worth approximately $11,256,000. Comerica Bank boosted its stake in Commerce Bancshares by 0.5% in the 1st quarter. Comerica Bank now owns 52,381 shares of the financial services provider’s stock valued at $3,826,000 after purchasing an additional 263 shares during the period. Finally, TownSquare Capital LLC boosted its stake in Commerce Bancshares by 101.4% in the 1st quarter. TownSquare Capital LLC now owns 6,543 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 3,295 shares during the period. 68.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CBSH shares. DA Davidson lifted their target price on Commerce Bancshares to $71.00 in a report on Monday, July 25th. StockNews.com assumed coverage on shares of Commerce Bancshares in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Insider Transactions at Commerce Bancshares

In other news, Director David W. Kemper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $69.54, for a total transaction of $695,400.00. Following the sale, the director now directly owns 1,151,838 shares in the company, valued at $80,098,814.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Thomas J. Noack sold 715 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $70.35, for a total value of $50,300.25. Following the transaction, the executive vice president now directly owns 21,439 shares of the company’s stock, valued at approximately $1,508,233.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Kemper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $69.54, for a total transaction of $695,400.00. Following the completion of the sale, the director now owns 1,151,838 shares of the company’s stock, valued at $80,098,814.52. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH opened at $70.82 on Thursday. Commerce Bancshares, Inc. has a 52-week low of $62.80 and a 52-week high of $74.72. The firm has a market cap of $8.45 billion, a P/E ratio of 18.35 and a beta of 0.77. The business’s fifty day moving average is $69.47 and its 200-day moving average is $68.73.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last released its earnings results on Tuesday, October 18th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). The firm had revenue of $384.90 million during the quarter, compared to the consensus estimate of $383.58 million. Commerce Bancshares had a net margin of 31.86% and a return on equity of 16.45%. Commerce Bancshares’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. On average, research analysts predict that Commerce Bancshares, Inc. will post 4.01 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.265 dividend. The ex-dividend date is Thursday, December 1st. This represents a $1.06 dividend on an annualized basis and a yield of 1.50%. Commerce Bancshares’s dividend payout ratio is currently 27.25%.

About Commerce Bancshares

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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.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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