Centiva Capital LP Buys Shares of 9,788 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Centiva Capital LP purchased a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,788 shares of the financial services provider’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CBSH. Cambridge Investment Research Advisors Inc. grew its position in Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after acquiring an additional 154 shares in the last quarter. Sound Stewardship LLC lifted its stake in Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Commerce Bancshares by 3.6% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC raised its holdings in shares of Commerce Bancshares by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several research reports. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.07.

Commerce Bancshares Trading Up 0.0 %

Shares of NASDAQ:CBSH opened at $68.75 on Friday. The company has a 50-day moving average price of $65.59 and a 200-day moving average price of $61.39. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 3.73 and a beta of 0.77. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. As a group, research analysts forecast that Commerce Bancshares, Inc. will post 3.98 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Buying and Selling

In related news, SVP Douglas D. Neff sold 888 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,816 shares of company stock valued at $2,108,821 over the last quarter. 3.20% of the stock is owned by company insiders.

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.