Cetera Investment Advisers Buys 24,569 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Cetera Investment Advisers raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 77.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,441 shares of the financial services provider’s stock after acquiring an additional 24,569 shares during the quarter. Cetera Investment Advisers’ holdings in Commerce Bancshares were worth $3,148,000 at the end of the most recent reporting period.

Several other large 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 4th quarter worth approximately $3,827,000. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 259,127 shares in the last quarter. Speece Thorson Capital Group Inc. grew its position in shares of Commerce Bancshares by 37.3% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock worth $12,432,000 after purchasing an additional 63,266 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth approximately $1,226,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Commerce Bancshares by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 193,619 shares of the financial services provider’s stock worth $10,341,000 after purchasing an additional 7,740 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles G. Kim sold 5,282 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $65.00, for a total transaction of $343,330.00. Following the transaction, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at $5,815,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,612 shares of company stock valued at $3,184,609. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CBSH shares. StockNews.com lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Jefferies Financial Group increased their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $59.71.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $58.36 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $65.86. The firm has a market capitalization of $7.56 billion, a P/E ratio of 16.26, a P/E/G ratio of 9.69 and a beta of 0.74. The company’s 50 day moving average price is $61.02 and its two-hundred day moving average price is $57.68.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $406.88 million. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s payout ratio is currently 30.08%.

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.