Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,966 shares of the financial services provider’s stock after selling 443 shares during the period. Oppenheimer & Co. Inc. owned 0.07% of Commerce Bancshares worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBSH. United Advisor Group LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $3,827,000. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares in the last quarter. Speece Thorson Capital Group Inc. lifted its holdings in Commerce Bancshares by 37.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock valued at $12,432,000 after purchasing an additional 63,266 shares in the last quarter. Trexquant Investment LP purchased a new position in Commerce Bancshares in the 4th quarter valued at $1,176,000. Finally, SG Americas Securities LLC acquired a new stake in Commerce Bancshares during the 2nd quarter worth $1,226,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP David L. Roller sold 861 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total value of $55,362.30. Following the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $1,990,020.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert S. Holmes sold 3,795 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,612 shares of company stock valued at $3,060,149. 3.20% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $61.98 on Friday. The company’s 50-day moving average is $61.72 and its two-hundred day moving average is $56.66. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 10.06 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s payout ratio is 30.12%.

Wall Street Analyst Weigh In

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

About Commerce Bancshares

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.