Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,508 shares of the financial services provider’s stock after purchasing an additional 1,340 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commerce Bancshares were worth $1,479,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clarity Asset Management Inc. acquired a new position in Commerce Bancshares during the fourth quarter worth $43,000. Bessemer Group Inc. raised its holdings 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 holdings in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 974 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Commerce Bancshares in the first quarter worth $90,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 1.1 %

CBSH stock opened at $63.96 on Monday. The stock has a 50-day moving average price of $60.30 and a two-hundred day moving average price of $55.97. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $65.86. The company has a market cap of $8.29 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 10.57 and a beta of 0.76.

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 analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm had revenue of $414.90 million during the quarter, compared to the consensus estimate of $406.88 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.96 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s payout ratio is 30.08%.

Insider Transactions at Commerce Bancshares

In other news, Director Jonathan M. Kemper sold 19,626 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP David L. Roller sold 861 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the transaction, the senior vice president now owns 30,949 shares in the company, valued at $1,990,020.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan M. Kemper sold 19,626 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now 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 46,281 shares of company stock valued at $2,975,232 over the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Wells Fargo & Company boosted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley upped their target price on 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, Jefferies Financial Group upped their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.