VestGen Advisors LLC Acquires 9,437 Shares of Commerce Bancshares, Inc. $CBSH

VestGen Advisors LLC increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 113.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,721 shares of the financial services provider’s stock after acquiring an additional 9,437 shares during the quarter. VestGen Advisors LLC’s holdings in Commerce Bancshares were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CBSH. Lido Advisors LLC bought a new position in shares of Commerce Bancshares during the second quarter valued at approximately $701,000. Norges Bank bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $89,282,000. State Board of Administration of Florida Retirement System grew its stake in shares of Commerce Bancshares by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 150,232 shares of the financial services provider’s stock worth $9,340,000 after buying an additional 1,250 shares during the last quarter. Employees Retirement System of Texas bought a new position in Commerce Bancshares during the 2nd quarter valued at approximately $65,000. Finally, Country Trust Bank purchased a new position in Commerce Bancshares during the second quarter valued at $756,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their target price on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research note on Friday, October 17th. Morgan Stanley increased their price objective on shares of Commerce Bancshares from $62.86 to $66.67 and gave the company an “underperform” rating in a research report on Monday, September 29th. TD Cowen started coverage on shares of Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $60.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Zacks Research downgraded shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.18.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $54.50 on Tuesday. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 4.71 and a beta of 0.62. The business has a 50-day simple moving average of $55.21 and a two-hundred day simple moving average of $59.73. Commerce Bancshares, Inc. has a fifty-two week low of $51.12 and a fifty-two week high of $70.39.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.03). The company had revenue of $448.85 million during the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 earnings per share. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $0.275 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares’s payout ratio is currently 26.25%.

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.