Virtu Financial LLC Makes New $566,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Virtu Financial LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,523 shares of the financial services provider's stock, valued at approximately $566,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBSH. SG Americas Securities LLC purchased a new stake in Commerce Bancshares in the 2nd quarter valued at $1,226,000. Centiva Capital LP purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth about $581,000. Wealth Enhancement Advisory Services LLC purchased a new position in Commerce Bancshares in the second quarter valued at approximately $436,000. Dark Forest Capital Management LP acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $522,000. Finally, &PARTNERS acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $396,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In other news, SVP Douglas D. Neff sold 888 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. The trade was a 9.95 % 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 Patricia R. Kellerhals sold 500 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,816 shares of company stock worth $2,454,586. 3.20% of the stock is owned by insiders.

Commerce Bancshares Trading Down 0.2 %

Commerce Bancshares stock traded down $0.13 during trading hours on Friday, hitting $67.53. 383,984 shares of the stock traded hands, compared to its average volume of 448,667. The firm's 50-day moving average price is $66.60 and its two-hundred day moving average price is $61.84. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The company has a market cap of $8.66 billion, a PE ratio of 17.59, a PEG ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $412.85 million. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.60%. Commerce Bancshares's dividend payout ratio is currently 28.13%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CBSH. Morgan Stanley cut Commerce Bancshares from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares currently has a consensus 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.