Daiwa Securities Group Inc. Raises Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Daiwa Securities Group Inc. grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,915 shares of the financial services provider’s stock after acquiring an additional 723 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Commerce Bancshares were worth $386,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CBSH. Cambridge Investment Research Advisors Inc. grew its stake in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after purchasing an additional 154 shares during the period. MTM Investment Management LLC lifted its position in shares of Commerce Bancshares by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 60,130 shares of the financial services provider’s stock valued at $3,199,000 after buying an additional 199 shares in the last quarter. Angeles Investment Advisors LLC grew its stake in shares of Commerce Bancshares by 5.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 217 shares during the period. Panagora Asset Management Inc. increased its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Panagora Asset Management Inc. now owns 5,417 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 257 shares in the last quarter. Finally, Connectus Wealth LLC boosted its stake in shares of Commerce Bancshares by 1.5% in the fourth quarter. Connectus Wealth LLC now owns 17,594 shares of the financial services provider’s stock worth $940,000 after acquiring an additional 266 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 5,282 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the sale, the chief financial officer now owns 89,472 shares of the company’s stock, valued at $5,815,680. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Charles G. Kim sold 5,282 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the sale, the chief financial officer now directly owns 89,472 shares in the company, valued at $5,815,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Kemper sold 19,626 shares of the stock in a transaction dated 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 sale, the director now directly owns 997,112 shares in the company, valued at approximately $63,476,149.92. The disclosure for this sale can be found here. Insiders sold a total of 47,612 shares of company stock worth $3,060,149 over the last three months. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $62.26 on Tuesday. The stock has a 50 day moving average price of $61.86 and a 200 day moving average price of $56.77. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 10.06 and a beta of 0.75. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86.

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

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be given 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 yield of 1.73%. Commerce Bancshares’s payout ratio is currently 30.08%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CBSH shares. Morgan Stanley raised their price target on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.