66,780 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, HoldingsChannel.com reports. The firm bought 66,780 shares of the financial services provider’s stock, valued at approximately $3,967,000.

Several other institutional investors have also recently bought and sold shares of CBSH. Dimensional Fund Advisors LP boosted 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 purchasing an additional 342,793 shares in the last quarter. Vanguard Group Inc. lifted its stake in Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares during the last quarter. American Century Companies Inc. lifted its stake in Commerce Bancshares by 7.4% in 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. Millennium Management LLC boosted its position in Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after buying an additional 214,582 shares in the last quarter. Finally, Boston Trust Walden Corp grew 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 worth $70,339,000 after buying an additional 168,550 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the subject of a number of research reports. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.79.

Insider Activity

In related news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares 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 completion of the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated 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 directly owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,831 shares of company stock valued at $2,154,008. 3.20% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $69.45 on Friday. The stock’s 50 day moving average is $61.55 and its 200 day moving average is $59.16. Commerce Bancshares, Inc. has a one year low of $42.48 and a one year high of $70.02. The firm has a market cap of $8.95 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.79 and a beta of 0.73.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.56%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

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.