Alpha DNA Investment Management LLC Invests $417,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Alpha DNA Investment Management LLC purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,469 shares of the financial services provider’s stock, valued at approximately $417,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Commerce Bancshares by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares during the period. American Century Companies Inc. grew its holdings in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after acquiring an additional 342,793 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after purchasing an additional 168,550 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Commerce Bancshares by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 659,735 shares of the financial services provider’s stock worth $35,236,000 after acquiring an additional 41,220 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on CBSH shares. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group increased their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.00.

Insider Activity

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the transaction, the chief executive officer now directly owns 198,298 shares in the company, valued at $12,932,995.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total transaction of $55,362.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Kemper sold 5,156 shares of Commerce Bancshares stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the sale, the chief executive officer now owns 198,298 shares in the company, valued at approximately $12,932,995.56. The disclosure for this sale can be found here. Insiders sold a total of 49,612 shares of company stock valued at $3,184,609 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $59.75 on Thursday. The firm’s 50-day moving average is $62.28 and its two-hundred day moving average is $57.19. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 10.03 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

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.