Aigen Investment Management LP Makes New $638,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Aigen Investment Management LP acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the third quarter, Holdings Channel.com reports. The fund acquired 10,747 shares of the financial services provider’s stock, valued at approximately $638,000.

A number of other institutional investors have also modified their holdings of the company. Keystone Financial Services acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $215,000. Los Angeles Capital Management LLC grew its stake in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after buying an additional 358,066 shares in the last quarter. Atria Investments Inc grew its stake in shares of Commerce Bancshares by 9.3% in the third quarter. Atria Investments Inc now owns 24,455 shares of the financial services provider’s stock valued at $1,453,000 after buying an additional 2,071 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $39,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $3,967,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of research reports. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted 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. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.79.

Insiders Place Their Bets

In other news, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the sale, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value 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 $71,170,189.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,331 shares of company stock valued at $2,062,778 in the last ninety days. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $71.97 on Thursday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73. The business has a 50-day moving average of $62.05 and a two-hundred day moving average of $59.54. Commerce Bancshares, Inc. has a 1 year low of $44.48 and a 1 year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (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 the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

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.