XTX Topco Ltd Takes $515,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

XTX Topco Ltd purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,665 shares of the financial services provider's stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBSH. Cetera Advisors LLC boosted its stake in Commerce Bancshares by 22.1% during the first quarter. Cetera Advisors LLC now owns 6,373 shares of the financial services provider's stock worth $339,000 after acquiring an additional 1,155 shares in the last quarter. SG Americas Securities LLC bought a new stake in Commerce Bancshares in the 2nd quarter valued at about $1,226,000. Wealth Enhancement Advisory Services LLC bought a new stake in Commerce Bancshares in the 2nd quarter valued at about $436,000. Raymond James & Associates raised its stake in Commerce Bancshares by 7.9% during the 2nd quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider's stock worth $7,560,000 after buying an additional 9,881 shares during the period. Finally, Marshall Financial Group LLC bought a new position in Commerce Bancshares in the second quarter worth approximately $1,006,000. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. 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. Keefe, Bruyette & Woods boosted 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 report on Wednesday, December 4th. Finally, 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. 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, the company presently has a consensus rating of "Hold" and an average target price of $65.07.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock traded down $0.13 during mid-day trading on Friday, hitting $67.53. 383,984 shares of the stock were exchanged, compared to its average volume of 448,667. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The company has a 50-day simple moving average of $66.60 and a 200 day simple moving average of $61.79. The company has a market capitalization of $8.66 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.92 and a beta of 0.77.

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. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at $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 is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares of the company's stock, valued at $1,454,999.63. The trade was a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,816 shares of company stock worth $2,454,586 over the last three months. 3.20% of the stock is currently owned by 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.