Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Boosted by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 18.1% in the second quarter, Holdings Channel.com reports. The firm owned 10,353 shares of the financial services provider’s stock after acquiring an additional 1,588 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Commerce Bancshares were worth $540,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Clarity Asset Management Inc. acquired a new stake in shares of Commerce Bancshares during the 4th quarter valued at $43,000. Bessemer Group Inc. raised its holdings in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares in the last quarter. GAMMA Investing LLC boosted its position in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 521 shares during the last quarter. Eagle Bay Advisors LLC grew its stake in Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 974 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Commerce Bancshares in the 1st quarter worth about $90,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jonathan M. Kemper sold 19,626 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the transaction, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP David L. Roller sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at $1,990,020.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan M. Kemper sold 19,626 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $63.66, for a total value of $1,249,391.16. Following the completion of the transaction, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,612 shares of company stock valued at $3,184,609. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

CBSH has been the subject of several recent research reports. Morgan Stanley boosted their price target on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Seven equities 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

Commerce Bancshares Trading Up 0.5 %

Shares of Commerce Bancshares stock opened at $60.05 on Friday. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86. The firm has a fifty day simple moving average of $62.21 and a 200-day simple moving average of $57.21. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 10.03 and a beta of 0.75.

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

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.80%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Commerce Bancshares 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.