Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 256,876 shares of the financial services provider’s stock after purchasing an additional 382 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Commerce Bancshares worth $14,329,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. United Advisor Group LLC bought a new stake in Commerce Bancshares in the fourth quarter valued at about $3,827,000. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 259,127 shares during the last quarter. Speece Thorson Capital Group Inc. raised 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 valued at $12,432,000 after acquiring an additional 63,266 shares in the last quarter. Trexquant Investment LP bought a new position in Commerce Bancshares during the fourth quarter worth $1,176,000. Finally, SG Americas Securities LLC acquired a new position in Commerce Bancshares in the second quarter worth $1,226,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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 report on Wednesday, July 3rd. Wells Fargo & Company lifted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley increased their price target on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.00.

Insiders Place Their Bets

In related news, EVP Robert S. Holmes sold 3,795 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at $3,256,471.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert S. Holmes sold 3,795 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $3,256,471.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction dated 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 directly owns 23,381 shares in the company, valued at $1,454,999.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,612 shares of company stock worth $3,184,609. 3.20% of the stock is owned by corporate insiders.

Commerce Bancshares Trading Down 1.8 %

Shares of NASDAQ CBSH opened at $60.73 on Wednesday. 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 $7.87 billion, a PE ratio of 16.92, a P/E/G ratio of 10.29 and a beta of 0.75. The stock has a 50 day simple moving average of $62.32 and a 200-day simple moving average of $57.17.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.78%. Commerce Bancshares’s payout ratio is 30.08%.

Commerce Bancshares 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.