iSAM Funds UK Ltd Buys Shares of 10,100 Commerce Bancshares, Inc. $CBSH

iSAM Funds UK Ltd bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, Holdings Channel reports. The fund bought 10,100 shares of the financial services provider’s stock, valued at approximately $583,000.

A number of other hedge funds have also recently made changes to their positions in CBSH. Danske Bank A S bought a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its position in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in Commerce Bancshares during the second quarter valued at $29,000. Root Financial Partners LLC raised its stake in Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Commerce Bancshares in the second quarter worth $59,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CBSH shares. Raymond James Financial raised Commerce Bancshares to a “hold” rating in a research note on Thursday, August 27th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Morgan Stanley reissued a “positive” rating and set a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Piper Sandler restated a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.29.

Commerce Bancshares Stock Performance

CBSH stock opened at $57.96 on Thursday. The stock’s 50 day simple moving average is $58.74 and its 200 day simple moving average is $54.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.92. The stock has a market capitalization of $8.31 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The business had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. During the same quarter last year, the company earned $1.14 EPS. As a group, research analysts forecast that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Insider Buying and Selling

In related news, SVP Douglas D. Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the completion of the sale, the senior vice president directly owned 11,746 shares in the company, valued at approximately $683,029.90. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total value of $62,074.83. Following the completion of the transaction, the senior vice president directly owned 13,117 shares of the company’s stock, valued at approximately $782,166.71. This trade represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,150 shares of company stock worth $1,974,783 in the last three months. 1.80% of the stock is currently owned by company insiders.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.