Stratos Wealth Partners LTD. Sells 248 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Stratos Wealth Partners LTD. cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,575 shares of the financial services provider’s stock after selling 248 shares during the period. Stratos Wealth Partners LTD.’s holdings in Commerce Bancshares were worth $222,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CBSH. Norges Bank bought a new position in Commerce Bancshares in the fourth quarter worth approximately $86,327,000. American Century Companies Inc. raised its position in Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock worth $228,991,000 after acquiring an additional 745,661 shares during the period. Vanguard Group Inc. boosted its position in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after purchasing an additional 642,401 shares during the period. Aristotle Capital Management LLC boosted its position in shares of Commerce Bancshares by 4.3% in the fourth quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider’s stock worth $533,777,000 after purchasing an additional 351,406 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Commerce Bancshares by 31.8% in the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider’s stock worth $80,161,000 after purchasing an additional 310,443 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the transaction, the director owned 3,175 shares of the company’s stock, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Stock Up 0.0%

NASDAQ CBSH opened at $63.31 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $8.45 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.84 and a beta of 0.59. Commerce Bancshares, Inc. has a one year low of $52.69 and a one year high of $72.75. The stock has a 50 day moving average price of $63.32 and a 200-day moving average price of $62.84.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.12. The firm had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, June 6th. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Analysts Set New Price Targets

CBSH has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Piper Sandler upped their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, Bank of America lifted their price objective on shares of Commerce Bancshares from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $66.00.

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.