Profund Advisors LLC Has $302,000 Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Profund Advisors LLC trimmed its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,416 shares of the financial services provider’s stock after selling 890 shares during the quarter. Profund Advisors LLC’s holdings in Commerce Bancshares were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in Commerce Bancshares by 0.5% during the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock worth $34,846,000 after purchasing an additional 3,391 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Commerce Bancshares by 591.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,243 shares of the financial services provider’s stock worth $348,000 after buying an additional 5,340 shares during the period. MQS Management LLC bought a new position in Commerce Bancshares during the second quarter worth $458,000. WCG Wealth Advisors LLC raised its stake in Commerce Bancshares by 14.3% during the second quarter. WCG Wealth Advisors LLC now owns 18,761 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 2,344 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Commerce Bancshares in the second quarter valued at $207,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $59.83 on Friday. The firm has a market cap of $7.71 billion, a P/E ratio of 16.69, a PEG ratio of 10.03 and a beta of 0.75. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86. The business’s 50 day simple moving average is $62.14 and its two-hundred day simple moving average is $57.26.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. The business had revenue of $414.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Thursday, September 5th. Commerce Bancshares’s payout ratio is presently 30.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CBSH. Jefferies Financial Group lifted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted 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 increased their price target on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 owns 997,112 shares in the company, valued at $63,476,149.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. The disclosure for this sale can be found here. Insiders have sold 49,612 shares of company stock worth $3,184,609 in the last quarter. 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.