Mercer Global Advisors Inc. ADV Acquires 2,403 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,807 shares of the financial services provider’s stock after acquiring an additional 2,403 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Commerce Bancshares were worth $1,537,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares during the last quarter. American Century Companies Inc. grew its holdings in Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after acquiring an additional 240,938 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after acquiring an additional 168,550 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Commerce Bancshares by 6.7% during the 4th quarter. Schroder Investment Management Group now owns 659,735 shares of the financial services provider’s stock worth $35,236,000 after acquiring an additional 41,220 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.00.

Commerce Bancshares Stock Down 1.8 %

Shares of NASDAQ CBSH opened at $60.73 on Wednesday. The firm has a market cap of $7.87 billion, a PE ratio of 16.92, a P/E/G ratio of 10.29 and a beta of 0.75. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $65.86. The company’s fifty day simple moving average is $62.32 and its 200 day simple moving average is $57.17.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17. The business 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 prior year, the firm earned $0.97 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.78%. Commerce Bancshares’s payout ratio is 30.08%.

Insiders Place Their Bets

In other Commerce Bancshares news, VP David L. Orf sold 2,102 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total transaction of $136,272.66. Following the transaction, the vice president now owns 19,140 shares in the company, valued at $1,240,846.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Commerce Bancshares news, VP David L. Orf sold 2,102 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total transaction of $136,272.66. Following the transaction, the vice president now owns 19,140 shares in the company, valued at $1,240,846.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,612 shares of company stock worth $3,184,609. Insiders own 3.20% of the company’s stock.

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.