Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,139 shares of the financial services provider’s stock after purchasing an additional 187 shares during the period. GAMMA Investing LLC’s holdings in Commerce Bancshares were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Financial Bank Trust Division acquired a new position in Commerce Bancshares during the fourth quarter worth about $209,000. Franklin Resources Inc. acquired a new position in shares of Commerce Bancshares in the 3rd quarter worth approximately $2,861,000. Tidal Investments LLC lifted its stake in Commerce Bancshares by 13.5% during the third quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider’s stock valued at $2,319,000 after purchasing an additional 4,654 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Commerce Bancshares during the third quarter worth approximately $475,000. Finally, Sanctuary Advisors LLC grew its position in Commerce Bancshares by 35.5% in the third quarter. Sanctuary Advisors LLC now owns 42,924 shares of the financial services provider’s stock worth $2,550,000 after buying an additional 11,247 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $61.15 on Friday. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.92 and a beta of 0.79. The business’s 50-day moving average is $67.48 and its 200-day moving average is $63.11. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.77%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CBSH shares. Wells Fargo & Company raised their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.75.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the sale, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $4,417,723.86. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the firm’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 in the company, valued at $71,170,189.32. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,398 shares of company stock valued at $2,504,665 in the last three months. Insiders own 3.20% of the company’s stock.

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.