Arkfeld Wealth Strategies L.L.C. Acquires 225,750 Shares of Commerce Bancshares, Inc. $CBSH

Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, HoldingsChannel reports. The fund acquired 225,750 shares of the financial services provider’s stock, valued at approximately $12,170,000. Commerce Bancshares makes up 3.2% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 8th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBSH. IFP Advisors Inc boosted its holdings in Commerce Bancshares by 14.3% during the third quarter. IFP Advisors Inc now owns 2,492 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 312 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $255,000. Krilogy Financial LLC grew its position in shares of Commerce Bancshares by 6.2% in the third quarter. Krilogy Financial LLC now owns 16,069 shares of the financial services provider’s stock valued at $877,000 after purchasing an additional 943 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Commerce Bancshares by 12.9% in the third quarter. NorthCrest Asset Manangement LLC now owns 10,908 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 1,246 shares during the period. Finally, Riversedge Advisors LLC bought a new position in shares of Commerce Bancshares in the third quarter worth about $200,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH traded down $0.52 during midday trading on Monday, reaching $55.17. 211,360 shares of the company’s stock were exchanged, compared to its average volume of 1,189,906. The company’s 50 day simple moving average is $57.15 and its two-hundred day simple moving average is $55.37. The firm has a market capitalization of $7.91 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Equities research analysts expect that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th were paid a dividend of $0.2750 per share. The ex-dividend date was Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Insider Activity

In related news, SVP Derrick Brooks sold 1,041 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total value of $62,074.83. Following the sale, the senior vice president owned 13,117 shares of the company’s stock, valued at $782,166.71. The trade was a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas D. Neff sold 666 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $58.15, for a total value of $38,727.90. Following the completion of the sale, the senior vice president directly owned 11,746 shares in the company, valued at approximately $683,029.90. This represents a 5.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,950 shares of company stock valued at $1,963,777. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CBSH shares. Raymond James Financial raised Commerce Bancshares to a “hold” rating in a research report on Thursday, August 27th. Piper Sandler lowered their target price on Commerce Bancshares from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Stephens set a $64.00 price target on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Morgan Stanley upped their price target on Commerce Bancshares from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, September 28th. Finally, Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.29.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.