Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,139 shares of the financial services provider’s stock after acquiring an additional 187 shares during the period. GAMMA Investing LLC’s holdings in Commerce Bancshares were worth $71,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth about $26,000. Allworth Financial LP lifted its holdings in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $39,000. True Wealth Design LLC purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC raised its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at $1,526,265.75. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,398 shares of company stock valued at $2,504,665 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Stock Down 2.6 %

NASDAQ:CBSH opened at $61.15 on Friday. The company has a market cap of $7.84 billion, a P/E ratio of 15.92, a P/E/G ratio of 2.92 and a beta of 0.79. The firm’s 50 day moving average is $67.48 and its two-hundred day moving average is $63.11. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The firm had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. Research analysts forecast that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CBSH. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $66.75.

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.