Dynamic Technology Lab Private Ltd Buys New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,201 shares of the financial services provider’s stock, valued at approximately $2,863,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $26,000. Allworth Financial LP lifted its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter valued at approximately $39,000. Bessemer Group Inc. grew its stake in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Commerce Bancshares news, EVP John K. Handy sold 1,331 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total transaction of $84,917.80. Following the sale, the executive vice president now owns 41,548 shares in the company, valued at $2,650,762.40. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,109 shares of company stock worth $2,191,123. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CBSH. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $61.79.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $73.70 on Monday. The company’s fifty day moving average price is $63.52 and its two-hundred day moving average price is $60.36. The firm has a market capitalization of $9.45 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.98 and a beta of 0.73. Commerce Bancshares, Inc. has a 12 month low of $47.19 and a 12 month high of $73.82.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

About Commerce Bancshares

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.