Neville Rodie & Shaw Inc. Acquires New Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Neville Rodie & Shaw Inc. bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,631 shares of the financial services provider’s stock, valued at approximately $476,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CBSH. Virtu Financial LLC bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at $566,000. Centiva Capital LP bought a new position in Commerce Bancshares in the third quarter valued at about $581,000. Barclays PLC raised its position in Commerce Bancshares by 19.4% in the third 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 during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Commerce Bancshares during the second quarter valued at about $522,000. Finally, FMR LLC increased its stake in shares of Commerce Bancshares by 15.4% in the third quarter. FMR LLC now owns 110,423 shares of the financial services provider’s stock valued at $6,559,000 after buying an additional 14,775 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares 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 completion of the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,398 shares of company stock worth $2,504,665 in the last quarter. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 1.0 %

Shares of CBSH opened at $62.82 on Tuesday. The firm’s fifty day simple moving average is $67.52 and its two-hundred day simple moving average is $62.95. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The stock has a market capitalization of $8.06 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.92 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analyst estimates 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 predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 31st. Wells Fargo & Company increased their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.07.

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.