Verde Capital Management Takes $201,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Verde Capital Management bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,390 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $26,000. Bessemer Group Inc. grew its holdings in Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of Commerce Bancshares by 2,864.7% during the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 974 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Commerce Bancshares by 12,340.0% during the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,234 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 5,282 shares of Commerce Bancshares stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total transaction of $343,330.00. Following the completion of the transaction, the chief financial officer now owns 89,472 shares in the company, valued at approximately $5,815,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Commerce Bancshares news, CFO Charles G. Kim sold 5,282 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $65.00, for a total value of $343,330.00. Following the completion of the transaction, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the sale, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,612 shares of company stock valued at $3,184,609 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Up 0.3 %

Shares of Commerce Bancshares stock opened at $61.28 on Friday. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The firm has a market capitalization of $7.90 billion, a P/E ratio of 15.96, a P/E/G ratio of 3.07 and a beta of 0.74. The business has a fifty day simple moving average of $61.10 and a two-hundred day simple moving average of $58.07.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The company had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Commerce Bancshares’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. Analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. Commerce Bancshares’s payout ratio is 28.13%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CBSH shares. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.79.

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.