Quantbot Technologies LP Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Quantbot Technologies LP acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,959 shares of the financial services provider’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP grew its position in 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 valued at approximately $39,000. GAMMA Investing LLC grew its position in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at $2,236,684.23. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 33,778 shares of company stock worth $2,106,205 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CBSH shares. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday. 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.07.

Commerce Bancshares Trading Up 0.5 %

NASDAQ CBSH opened at $69.11 on Thursday. The company has a fifty day simple moving average of $65.05 and a 200 day simple moving average of $61.17. The company has a market cap of $8.86 billion, a P/E ratio of 17.95, a P/E/G ratio of 3.95 and a beta of 0.77. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Equities research analysts forecast that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company 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. This represents a $1.08 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

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.