Alpha DNA Investment Management LLC Sells 339 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Alpha DNA Investment Management LLC trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,130 shares of the financial services provider’s stock after selling 339 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Commerce Bancshares were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Commerce Bancshares during the 2nd quarter valued at $1,226,000. Marshall Financial Group LLC purchased a new stake in Commerce Bancshares during the 2nd quarter valued at $1,006,000. Tidal Investments LLC grew its holdings in Commerce Bancshares by 181.3% during the 1st quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 11,540 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Commerce Bancshares by 138.3% in the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after buying an additional 18,496 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Commerce Bancshares during the second quarter worth $436,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $73.70 on Monday. Commerce Bancshares, Inc. has a one year low of $47.19 and a one year high of $73.82. The firm has a fifty day moving average of $63.52 and a 200 day moving average of $60.36. The firm has a market cap of $9.45 billion, a PE ratio of 19.19, a PEG ratio of 3.98 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during 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, equities analysts predict that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given 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 of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Commerce Bancshares

In related news, 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 completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas D. Neff sold 888 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the transaction, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,109 shares of company stock valued at $2,191,123 over the last 90 days. 3.10% of the stock is owned by insiders.

Commerce Bancshares 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.