Wealth Enhancement Advisory Services LLC Invests $436,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Wealth Enhancement Advisory Services LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 recently made changes to their positions in CBSH. Clarity Asset Management Inc. purchased a new stake in Commerce Bancshares in the 4th quarter valued at $43,000. Bessemer Group Inc. increased its position in 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 purchasing an additional 390 shares during the last quarter. GAMMA Investing LLC raised its stake in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares during the period. LRI Investments LLC purchased a new position in Commerce Bancshares during the first quarter worth about $90,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Commerce Bancshares by 93.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 805 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other news, Director Jonathan M. Kemper sold 19,626 shares of the 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 sale, the director now directly owns 997,112 shares in the company, valued at $63,476,149.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $60.82, for a total transaction of $91,230.00. Following the completion of the transaction, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at $1,543,672.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Kemper sold 19,626 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the sale, the director now owns 997,112 shares in the company, valued at $63,476,149.92. The disclosure for this sale can be found here. Insiders sold 46,281 shares of company stock valued at $2,975,232 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 1.9 %

CBSH stock opened at $63.48 on Friday. The business’s fifty day moving average price is $59.12 and its 200 day moving average price is $55.37. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $65.86. The company has a market capitalization of $8.22 billion, a PE ratio of 17.88, a P/E/G ratio of 10.29 and a beta of 0.76.

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

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Wall Street Analysts Forecast Growth

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

About Commerce Bancshares

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.