Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,557 shares of the financial services provider’s stock after buying an additional 642 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Commerce Bancshares were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBSH. SG Americas Securities LLC acquired a new position in shares of Commerce Bancshares in the second quarter worth about $1,226,000. Marshall Financial Group LLC acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at approximately $1,006,000. Tidal Investments LLC boosted its stake in shares of 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 buying an additional 11,540 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Commerce Bancshares by 138.3% during 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Commerce Bancshares in the second quarter worth $436,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,109 shares of company stock valued at $2,191,123 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Down 0.2 %

Shares of CBSH stock opened at $73.75 on Friday. The business has a 50 day moving average of $64.66 and a two-hundred day moving average of $60.91. The company has a market cap of $9.46 billion, a P/E ratio of 19.21, a PEG ratio of 3.99 and a beta of 0.73. Commerce Bancshares, Inc. has a 52 week low of $47.28 and a 52 week high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

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 given a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.46%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Analysts Set New Price Targets

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

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.