Edgestream Partners L.P. Purchases 84,431 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Edgestream Partners L.P. lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 962.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 93,200 shares of the financial services provider's stock after acquiring an additional 84,431 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Commerce Bancshares worth $5,536,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter valued at approximately $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at $39,000. GAMMA Investing LLC lifted its holdings in Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider's stock worth $48,000 after purchasing an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock worth $52,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the company's 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 directly owns 23,381 shares of the company's stock, valued at approximately $1,454,999.63. This represents a 7.88 % 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 worth $2,191,123 in the last ninety days. Insiders own 3.20% of the company's stock.

Commerce Bancshares Stock Performance

CBSH traded down $0.13 on Friday, reaching $73.75. The company had a trading volume of 256,836 shares, compared to its average volume of 535,950. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 3.98 and a beta of 0.73. The business has a 50 day simple moving average of $64.66 and a 200 day simple moving average of $60.94. Commerce Bancshares, Inc. has a 52-week low of $47.28 and a 52-week high of $76.39.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share 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 firm had revenue of $421.38 million during the quarter, compared to analysts' expectations of $412.85 million. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

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 paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.46%. Commerce Bancshares's dividend payout ratio (DPR) is currently 28.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CBSH shares. Morgan Stanley cut Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company 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.