67,409 Commerce Bancshares, Inc. $CBSH Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Commerce Bancshares stake by 88.8%, selling 67,409 shares in the third quarter and retaining 8,491 shares worth approximately $465,000.
• Institutional ownership remains significant at 70.26%, with several major investors—including BlackRock, Commerce Bank, and Dimensional Fund Advisors—building or initiating positions.
• Commerce Bancshares exceeded quarterly earnings expectations, reporting $1.10 EPS versus a $1.04 consensus estimate, while analysts maintained a consensus “Hold” rating with a $64.29 price target.

Curated Wealth Partners LLC lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 88.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,491 shares of the financial services provider's stock after selling 67,409 shares during the period. Curated Wealth Partners LLC's holdings in Commerce Bancshares were worth $465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new position in Commerce Bancshares during the 2nd quarter valued at $755,669,000. Commerce Bank bought a new stake in shares of Commerce Bancshares during the second quarter worth $316,010,000. Dimensional Fund Advisors LP lifted its position in shares of Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider's stock worth $193,999,000 after purchasing an additional 894,183 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Commerce Bancshares by 11.0% during the first quarter. First Trust Advisors LP now owns 2,610,223 shares of the financial services provider's stock worth $128,423,000 after purchasing an additional 257,817 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $83,328,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the transaction, the chief financial officer owned 119,410 shares in the company, valued at $7,066,683.80. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 5,830 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction of $353,181.40. Following the completion of the transaction, the chief executive officer owned 206,528 shares of the company's stock, valued at $12,511,466.24. This represents a 2.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 32,950 shares of company stock worth $1,963,777. Company insiders own 1.80% of the company's stock.

Commerce Bancshares Trading Up 0.2%

NASDAQ:CBSH opened at $55.69 on Friday. The firm has a 50-day simple moving average of $57.15 and a 200-day simple moving average of $55.32. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The firm has a market cap of $7.99 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.69 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Equities analysts anticipate that Commerce Bancshares, Inc. will post 4.23 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th were given a $0.2750 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, September 4th. Commerce Bancshares's payout ratio is presently 26.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CBSH. Wells Fargo & Company set a $61.00 price objective on shares of Commerce Bancshares and gave the company an "equal weight" rating in a report on Tuesday, September 29th. TD Cowen reissued a "hold" rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Raymond James Financial upgraded shares of Commerce Bancshares to a "hold" rating in a research note on Thursday, August 27th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an "equal weight" rating in a research note on Friday, July 17th. Finally, Morgan Stanley boosted their price target on Commerce Bancshares from $76.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $64.29.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, Commerce Bank, provides banking and financial services to businesses, institutions and individuals through a network of branches and digital channels.

The company's offerings include commercial and consumer lending, deposit accounts, treasury and payment services, credit and debit cards, investment services, brokerage, trust administration and wealth management. Commerce also provides specialized services for businesses, including cash management, merchant processing and other payment solutions.

Commerce Bank traces its history to 1865 and primarily serves customers in Missouri, Kansas, Illinois, Oklahoma and Colorado.

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