Private Advisor Group LLC Makes New $697,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Private Advisor Group LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,502 shares of the financial services provider’s stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after acquiring an additional 154 shares in the last quarter. MTM Investment Management LLC increased its position in shares of Commerce Bancshares by 0.3% in the 1st quarter. MTM Investment Management LLC now owns 60,130 shares of the financial services provider’s stock worth $3,199,000 after purchasing an additional 199 shares during the last quarter. Angeles Investment Advisors LLC raised its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 217 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Panagora Asset Management Inc. now owns 5,417 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 257 shares during the last quarter. Finally, Connectus Wealth LLC grew its stake in Commerce Bancshares by 1.5% in the fourth quarter. Connectus Wealth LLC now owns 17,594 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 266 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Performance

CBSH stock opened at $62.27 on Wednesday. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 10.06 and a beta of 0.75. The stock’s fifty day moving average is $61.86 and its two-hundred day moving average is $56.77.

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. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period last year, the firm posted $0.97 EPS. Commerce Bancshares’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS 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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 30.08%.

Analyst Ratings Changes

A number of research analysts have commented on CBSH shares. Morgan Stanley increased their target price on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on 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, Jefferies Financial Group boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.00.

Insider Activity at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the business’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 sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $60.82, for a total transaction of $91,230.00. Following the completion of the transaction, the senior vice president now owns 25,381 shares of the company’s stock, valued at $1,543,672.42. The disclosure for this sale can be found here. Insiders have sold a total of 49,612 shares of company stock worth $3,184,609 in the last three months. 3.20% of the stock is owned by company insiders.

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.