7,819 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,819 shares of the financial services provider’s stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CBSH. Vanguard Group Inc. lifted its holdings in shares of Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after buying an additional 259,127 shares in the last quarter. Commerce Bank boosted its holdings in shares of Commerce Bancshares by 2.8% during the 4th quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after purchasing an additional 196,431 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Commerce Bancshares by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,345,252 shares of the financial services provider’s stock valued at $125,260,000 after purchasing an additional 155,526 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Commerce Bancshares by 22.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock valued at $89,541,000 after purchasing an additional 302,630 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Commerce Bancshares in the fourth quarter worth about $71,835,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Jefferies Financial Group increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley boosted their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average price target of $60.00.

Commerce Bancshares Stock Up 1.9 %

CBSH opened at $63.48 on Friday. The business has a fifty day moving average of $59.12 and a 200 day moving average of $55.37. The stock has a market cap of $8.22 billion, a P/E ratio of 17.88, a PEG ratio of 10.29 and a beta of 0.76. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.93 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. Commerce Bancshares’s payout ratio is 30.08%.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the sale, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the transaction, the director now directly owns 997,112 shares in the company, valued at approximately $63,476,149.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total value of $336,274.32. Following the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The disclosure for this sale can be found here. Insiders have sold a total of 46,281 shares of company stock valued at $2,975,232 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Company Profile

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.