9,788 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Acquired by Centiva Capital LP

Centiva Capital LP purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to its most recent 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 added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in Commerce Bancshares during the 3rd quarter valued at $26,000. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares in the 3rd quarter worth about $47,000. Finally, GAMMA Investing LLC increased its stake in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after buying an additional 521 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This trade represents a 7.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction 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. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,816 shares of company stock worth $2,108,821 in the last quarter. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Stock Up 0.0 %

CBSH opened at $68.75 on Friday. The firm has a 50-day moving average price of $65.59 and a 200-day moving average price of $61.39. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 3.73 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last issued its 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. The business had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.98 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed 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 is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.57%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CBSH. Morgan Stanley lowered 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. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday. Wells Fargo & Company boosted 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. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.07.

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.