10,747 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,747 shares of the financial services provider’s stock, valued at approximately $638,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares during the period. SG Americas Securities LLC purchased a new position in Commerce Bancshares during the second quarter worth approximately $1,226,000. Marshall Financial Group LLC purchased a new position in Commerce Bancshares during the second quarter worth approximately $1,006,000. Tidal Investments LLC boosted its position in Commerce Bancshares by 181.3% during the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 11,540 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in 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 purchasing an additional 18,496 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $71.97 on Thursday. The company has a market cap of $9.23 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73. The stock’s 50 day simple moving average is $62.05 and its 200-day simple moving average is $59.54. Commerce Bancshares, Inc. has a 1-year low of $44.48 and a 1-year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $412.85 million. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business 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 dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.50%. Commerce Bancshares’s payout ratio is 28.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CBSH shares. 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 upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.79.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on 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 transaction, the chairman now owns 1,151,994 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. In related news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on 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 transaction, the chairman now owns 1,151,994 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, EVP John K. Handy sold 1,331 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total value of $84,917.80. Following the sale, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at approximately $2,650,762.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,331 shares of company stock worth $2,062,778. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares 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.