Entropy Technologies LP Invests $428,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Entropy Technologies LP bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,874 shares of the financial services provider's stock, valued at approximately $428,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Commerce Bancshares during the third quarter valued at approximately $566,000. Procyon Advisors LLC acquired a new position in Commerce Bancshares during the 4th quarter valued at approximately $200,000. Centiva Capital LP acquired a new position in Commerce Bancshares during the 3rd quarter valued at approximately $581,000. PFW Advisors LLC acquired a new position in Commerce Bancshares during the 4th quarter valued at approximately $1,336,000. Finally, Barclays PLC increased its stake in Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after purchasing an additional 17,400 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 1.1 %

Shares of NASDAQ:CBSH traded down $0.70 during midday trading on Friday, reaching $65.74. The company's stock had a trading volume of 439,296 shares, compared to its average volume of 530,134. The firm has a market capitalization of $8.43 billion, a PE ratio of 16.39, a P/E/G ratio of 2.27 and a beta of 0.80. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75. The stock has a fifty day moving average of $65.05 and a 200 day moving average of $64.25.

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Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm's revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's dividend payout ratio (DPR) is currently 27.43%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBSH. Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Piper Sandler upped their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of "Hold" and a consensus target price of $67.83.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares of the company's stock, valued at $3,006,456.66. This trade represents a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,944 shares of company stock worth $5,835,512. 3.20% of the stock is owned by company insiders.

About Commerce Bancshares

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.