Centiva Capital LP Invests $581,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Centiva Capital LP bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 9,788 shares of the financial services provider's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBSH. American Century Companies Inc. lifted its stake in Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider's stock valued at $195,776,000 after buying an additional 240,938 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider's stock valued at $115,453,000 after purchasing an additional 342,793 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider's stock worth $70,339,000 after purchasing an additional 168,550 shares during the period. Sei Investments Co. boosted its stake in Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider's stock worth $34,846,000 after purchasing an additional 3,391 shares during the period. Finally, ProShare Advisors LLC grew its position in Commerce Bancshares by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 567,469 shares of the financial services provider's stock worth $31,653,000 after purchasing an additional 13,772 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target 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, Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $65.07.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company's stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,816 shares of company stock valued at $2,108,821. Corporate insiders own 3.20% of the company's stock.

Commerce Bancshares Stock Up 0.0 %

Shares of Commerce Bancshares stock traded up $0.01 during trading on Friday, reaching $68.75. The company's stock had a trading volume of 422,926 shares, compared to its average volume of 468,777. The business has a 50 day moving average price of $65.59 and a 200-day moving average price of $61.39. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The company has a market capitalization of $8.82 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Research analysts predict that Commerce Bancshares, Inc. will post 3.98 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders 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 annualized dividend and a yield of 1.57%. Commerce Bancshares's payout ratio is currently 28.13%.

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.