GTS Securities LLC Buys New Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH)

GTS Securities LLC acquired 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 filing with the SEC. The firm acquired 5,070 shares of the financial services provider's stock, valued at approximately $316,000.

Other large investors also recently added to or reduced their stakes in the company. Novem Group bought a new stake in Commerce Bancshares during the 4th quarter valued at $768,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Commerce Bancshares by 26.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 456,563 shares of the financial services provider's stock valued at $28,448,000 after buying an additional 94,287 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Commerce Bancshares by 35.9% during the fourth quarter. Voloridge Investment Management LLC now owns 390,949 shares of the financial services provider's stock valued at $24,360,000 after buying an additional 103,335 shares during the period. Tidal Investments LLC raised its holdings in shares of Commerce Bancshares by 6.9% in the fourth quarter. Tidal Investments LLC now owns 41,747 shares of the financial services provider's stock valued at $2,601,000 after acquiring an additional 2,707 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its holdings in shares of Commerce Bancshares by 19.7% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,853 shares of the financial services provider's stock valued at $427,000 after acquiring an additional 1,128 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 1.0%

Shares of Commerce Bancshares stock traded down $0.60 on Monday, reaching $62.41. The stock had a trading volume of 494,060 shares, compared to its average volume of 592,065. The stock has a market capitalization of $8.33 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.13 and a beta of 0.60. The company has a 50 day moving average price of $61.31 and a 200 day moving average price of $64.03. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The business 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, analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.76%. Commerce Bancshares's payout ratio is 26.63%.

Insider Buying and Selling

In related news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 3,175 shares of the company's stock, valued at $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CBSH. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and dropped their target price for the company from $66.00 to $58.00 in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.