Maven Securities LTD Acquires Shares of 6,000 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Maven Securities LTD bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,000 shares of the financial services provider’s stock, valued at approximately $356,000.

Several other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares during the third quarter worth about $26,000. Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% during 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 during the period. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $39,000. True Wealth Design LLC acquired a new position in Commerce Bancshares during the 3rd quarter valued at approximately $47,000. Finally, GAMMA Investing LLC grew its stake in 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 buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction 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 represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction on Monday, September 16th. The stock was 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 owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,816 shares of company stock valued at $2,108,821. 3.20% of the stock is owned by insiders.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $68.74 on Friday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 17.90, a PEG 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. The stock’s 50 day moving average price is $65.24 and its 200 day moving average price is $61.22.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate 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 expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average 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.