Arkfeld Wealth Strategies L.L.C. Makes New $12.17 Million Investment in Commerce Bancshares, Inc. $CBSH

Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 investment portfolio, making the stock its 8th biggest position. Arkfeld Wealth Strategies L.L.C. owned about 0.16% of Commerce Bancshares at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. IFP Advisors Inc raised its position in shares of Commerce Bancshares by 14.3% during the third quarter. IFP Advisors Inc now owns 2,492 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 312 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Commerce Bancshares during the third quarter valued at $255,000. Krilogy Financial LLC raised its holdings in Commerce Bancshares by 6.2% during the 3rd quarter. Krilogy Financial LLC now owns 16,069 shares of the financial services provider’s stock worth $877,000 after buying an additional 943 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Commerce Bancshares by 12.9% during the third quarter. NorthCrest Asset Manangement LLC now owns 10,908 shares of the financial services provider’s stock valued at $596,000 after buying an additional 1,246 shares in the last quarter. Finally, Riversedge Advisors LLC purchased a new stake in Commerce Bancshares during the third quarter valued at about $200,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 666 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president owned 11,746 shares in the company, valued at $683,029.90. This trade represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,950 shares of company stock worth $1,963,777 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen reissued a “hold” rating and issued a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Morgan Stanley upped their price target on shares of Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Wells Fargo & Company set a $61.00 price objective on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Tuesday, September 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.29.

Commerce Bancshares Stock Down 0.9%

Shares of CBSH stock traded down $0.52 during trading on Monday, hitting $55.17. 211,360 shares of the company were exchanged, compared to its average volume of 1,189,906. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.70 and a beta of 0.60. The business’s 50-day simple moving average is $57.15 and its 200 day simple moving average is $55.37. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the prior year, the business earned $1.14 EPS. As a group, analysts forecast that Commerce Bancshares, Inc. will post 4.23 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced 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 of this dividend was Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

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.