GAMMA Investing LLC Has $7.27 Million Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

GAMMA Investing LLC grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 10,160.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,868 shares of the financial services provider's stock after buying an additional 115,729 shares during the quarter. GAMMA Investing LLC owned 0.09% of Commerce Bancshares worth $7,273,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CBSH. Kapitalo Investimentos Ltda bought a new position in Commerce Bancshares during the 4th quarter worth about $26,000. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the fourth quarter worth about $33,000. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares during the fourth quarter worth about $35,000. V Square Quantitative Management LLC raised its position in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after buying an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 2.0%

Shares of CBSH stock traded down $1.26 on Wednesday, reaching $62.42. The stock had a trading volume of 197,192 shares, compared to its average volume of 587,180. Commerce Bancshares, Inc. has a 12 month low of $49.97 and a 12 month high of $72.75. The firm's 50-day moving average is $61.54 and its two-hundred day moving average is $63.72. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be issued a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.76%. Commerce Bancshares's dividend payout ratio is currently 26.63%.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares in the company, valued at $192,786. The trade was a 33.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CBSH has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Wells Fargo & Company reduced their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Piper Sandler upped their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Commerce Bancshares currently has an average rating of "Hold" and a consensus target price of $63.20.

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.