ProShare Advisors LLC Boosts Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

ProShare Advisors LLC raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 567,469 shares of the financial services provider’s stock after acquiring an additional 13,772 shares during the period. ProShare Advisors LLC’s holdings in Commerce Bancshares were worth $31,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CBSH. Panagora Asset Management Inc. grew its position in Commerce Bancshares by 5.0% during the fourth quarter. Panagora Asset Management Inc. now owns 5,417 shares of the financial services provider’s stock worth $289,000 after buying an additional 257 shares in the last quarter. Norges Bank bought a new stake in Commerce Bancshares during the fourth quarter worth about $71,835,000. UBS Group AG lifted its stake in Commerce Bancshares by 70.0% during the fourth quarter. UBS Group AG now owns 153,796 shares of the financial services provider’s stock worth $8,214,000 after purchasing an additional 63,332 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Commerce Bancshares by 88.2% during the fourth quarter. Corient Private Wealth LLC now owns 11,061 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 5,183 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Commerce Bancshares during the fourth quarter worth about $1,176,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the transaction, the chief executive officer now owns 198,298 shares in the company, valued at approximately $12,932,995.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The disclosure for this sale can be found here. Insiders sold 49,612 shares of company stock valued at $3,184,609 in the last 90 days. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Down 2.9 %

NASDAQ CBSH opened at $61.90 on Monday. The stock has a 50-day moving average of $62.28 and a 200-day moving average of $57.05. The firm has a market cap of $8.02 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 10.29 and a beta of 0.75. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The business had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. Commerce Bancshares’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 EPS. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s payout ratio is 30.08%.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target 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 lifted their price target on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group lifted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.00.

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.