Dynamic Technology Lab Private Ltd Takes $2.86 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to its most recent 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 large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP raised its position in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares in the third quarter worth $39,000. Bessemer Group Inc. lifted its holdings in Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares 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 sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,109 shares of company stock worth $2,191,123. 3.10% of the stock is owned by corporate insiders.

Commerce Bancshares Price Performance

CBSH stock opened at $73.70 on Monday. The company’s 50 day simple moving average is $63.52 and its 200-day simple moving average is $60.36. Commerce Bancshares, Inc. has a 12 month low of $47.19 and a 12 month high of $73.82. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.19, a P/E/G ratio of 3.98 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 firm had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

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 paid a dividend of $0.27 per share. 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 currently 28.13%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CBSH. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.79.

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.