Robeco Institutional Asset Management B.V. Makes New $3.97 Million Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Robeco Institutional Asset Management B.V. acquired 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 institutional investor acquired 66,780 shares of the financial services provider's stock, valued at approximately $3,967,000. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Commerce Bancshares at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in Commerce Bancshares in the third quarter valued at about $26,000. Allworth Financial LP boosted its holdings in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 192 shares in the last quarter. Bessemer Group Inc. grew its position in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider's stock worth $45,000 after acquiring an additional 390 shares during the last quarter. GAMMA Investing LLC increased its holdings in Commerce Bancshares by 156.5% in 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 position in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider's stock worth $52,000 after buying an additional 287 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 30,000 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was 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 of the company's stock, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $60.82, for a total transaction of $91,230.00. Following the transaction, the senior vice president now directly owns 25,381 shares of the company's stock, valued at $1,543,672.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the firm's 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 transaction, the chairman now owns 1,151,994 shares of the company's stock, valued at $71,170,189.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,831 shares of company stock worth $2,154,008. Insiders own 3.20% of the company's stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded up $1.48 on Friday, reaching $69.45. 560,016 shares of the stock traded hands, compared to its average volume of 534,631. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.79 and a beta of 0.73. The company has a fifty day moving average price of $61.55 and a 200-day moving average price of $59.16. Commerce Bancshares, Inc. has a 12 month low of $42.48 and a 12 month high of $70.02.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million during the quarter, compared to analysts' expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio is presently 28.13%.

Analysts Set New Price Targets

CBSH has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, July 22nd. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a "neutral" rating in a report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.