Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,876 shares of the financial services provider’s stock after purchasing an additional 382 shares during the period. Envestnet Asset Management Inc.’s holdings in Commerce Bancshares were worth $14,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CBSH. Clarity Asset Management Inc. acquired a new stake in Commerce Bancshares during the 4th quarter worth about $43,000. Bessemer Group Inc. lifted its position in shares of Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares in the last quarter. GAMMA Investing LLC boosted its stake in Commerce Bancshares by 156.5% in the 2nd 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. Eagle Bay Advisors LLC grew its position in Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 974 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Commerce Bancshares during the 1st quarter valued at $90,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CBSH. Morgan Stanley lifted 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 upped their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Finally, 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.00.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $60.73 on Wednesday. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $65.86. The stock’s 50-day moving average is $62.32 and its two-hundred day moving average is $57.17. The firm has a market cap of $7.87 billion, a P/E ratio of 16.92, a PEG ratio of 10.29 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data 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 firm 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%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 30.08%.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was 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 owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John W. Kemper sold 5,156 shares of the business’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 value of $336,274.32. Following the completion of the sale, the chief executive officer now directly owns 198,298 shares in the company, valued at approximately $12,932,995.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $60.82, for a total value of $91,230.00. Following the sale, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. The disclosure for this sale can be found here. Insiders have sold 49,612 shares of company stock valued at $3,184,609 over the last three months. 3.20% of the stock is currently owned by insiders.

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.