MQS Management LLC Acquires New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

MQS Management LLC purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,208 shares of the financial services provider’s stock, valued at approximately $458,000.

Other institutional investors have also made changes to their positions in the company. WCG Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 14.3% during the 2nd quarter. WCG Wealth Advisors LLC now owns 18,761 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 2,344 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Commerce Bancshares during the second quarter worth $207,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Commerce Bancshares by 18.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,353 shares of the financial services provider’s stock valued at $540,000 after buying an additional 1,588 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Commerce Bancshares by 9.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 27,807 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 2,403 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Commerce Bancshares during the 2nd quarter worth about $489,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, VP David L. Orf sold 2,102 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $64.83, for a total transaction of $136,272.66. Following the completion of the sale, the vice president now directly owns 19,140 shares of the company’s stock, valued at approximately $1,240,846.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP David L. Orf sold 2,102 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total value of $136,272.66. Following the sale, the vice president now owns 19,140 shares of the company’s stock, valued at $1,240,846.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 5,156 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the transaction, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The disclosure for this sale can be found here. Over 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 company insiders.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $63.73 on Friday. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86. The stock has a market cap of $8.26 billion, a P/E ratio of 17.75, a P/E/G ratio of 10.29 and a beta of 0.75. The stock has a 50-day simple moving average of $62.09 and a 200-day simple moving average of $56.88.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s payout ratio is currently 30.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CBSH shares. Jefferies Financial Group upped their target price 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. Morgan Stanley upped their price objective 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. Finally, 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 report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.