Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,069,924 shares of the financial services provider’s stock after purchasing an additional 342,793 shares during the period. Dimensional Fund Advisors LP owned about 1.60% of Commerce Bancshares worth $115,453,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $71,835,000. UBS Group AG increased its stake in shares of Commerce Bancshares by 70.0% in the fourth quarter. UBS Group AG now owns 153,796 shares of the financial services provider’s stock valued at $8,214,000 after purchasing an additional 63,332 shares during the period. Corient Private Wealth LLC increased its stake in shares of Commerce Bancshares by 88.2% in the fourth quarter. Corient Private Wealth LLC now owns 11,061 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 5,183 shares during the period. Trexquant Investment LP acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $1,176,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Commerce Bancshares by 1.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,994 shares of the financial services provider’s stock valued at $1,869,000 after purchasing an additional 401 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Charles G. Kim sold 5,282 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the transaction, the chief financial officer now owns 89,472 shares in the company, valued at approximately $5,815,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,612 shares of company stock valued at $3,184,609. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $61.84 on Tuesday. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 10.29 and a beta of 0.75. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The firm’s 50 day moving average price is $62.33 and its two-hundred day moving average price is $57.11.

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 company 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 revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.75%. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

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.