48,201 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 48,201 shares of the financial services provider's stock, valued at approximately $2,863,000.

Other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Commerce Bancshares by 34.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,518 shares of the financial services provider's stock worth $294,000 after purchasing an additional 1,419 shares in the last quarter. Bessemer Group Inc. grew its position in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider's stock worth $45,000 after buying an additional 390 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Commerce Bancshares by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,627 shares of the financial services provider's stock valued at $3,440,000 after buying an additional 3,749 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Commerce Bancshares during the 1st quarter valued at approximately $257,000. Finally, Kennedy Capital Management LLC boosted its stake in shares of Commerce Bancshares by 5.9% during the 1st quarter. Kennedy Capital Management LLC now owns 32,675 shares of the financial services provider's stock worth $1,738,000 after acquiring an additional 1,823 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CBSH. Morgan Stanley downgraded 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. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Finally, 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. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of "Hold" and a consensus price target of $61.79.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH traded up $1.69 during midday trading on Monday, reaching $75.39. 223,864 shares of the company traded hands, compared to its average volume of 530,889. Commerce Bancshares, Inc. has a 12 month low of $47.19 and a 12 month high of $76.39. The firm has a market cap of $9.67 billion, a PE ratio of 19.19, a PEG ratio of 3.98 and a beta of 0.73. The stock's 50-day simple moving average is $63.52 and its 200-day simple moving average is $60.36.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $412.85 million. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders 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 dividend yield of 1.43%. Commerce Bancshares's dividend payout ratio is 28.13%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company's stock, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John K. Handy sold 1,331 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now directly owns 41,548 shares of the company's stock, valued at $2,650,762.40. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,109 shares of company stock valued at $2,191,123 over the last three months. 3.10% of the stock is currently 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.