Neville Rodie & Shaw Inc. Invests $476,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Neville Rodie & Shaw Inc. bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,631 shares of the financial services provider’s stock, valued at approximately $476,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP increased its holdings in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter worth $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares during the third quarter worth $47,000. Finally, Farther Finance Advisors LLC lifted its stake in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

CBSH stock opened at $62.82 on Tuesday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.92 and a beta of 0.79. The business’s fifty day moving average price is $67.52 and its two-hundred day moving average price is $62.95.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Research analysts expect that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Activity

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CBSH. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Wells Fargo & Company boosted their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.