West Family Investments Inc. Buys New Shares in Commerce Bancshares, Inc. $CBSH

West Family Investments Inc. purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to its most recent filing with the SEC. The firm purchased 8,853 shares of the financial services provider’s stock, valued at approximately $511,000.

Several other hedge funds have also recently made changes to their positions in CBSH. Bank of America Corp DE lifted its position in shares of Commerce Bancshares by 62.9% during the 1st quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock valued at $50,775,000 after acquiring an additional 398,670 shares during the period. Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after acquiring an additional 894,183 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Commerce Bancshares by 39.8% in the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after purchasing an additional 179,894 shares in the last quarter. Two Sigma Securities LLC bought a new position in Commerce Bancshares during the 2nd quarter valued at $1,016,000. Finally, Mosaic Family Wealth Partners LLC bought a new position in shares of Commerce Bancshares during the first quarter valued at about $3,390,000. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CBSH shares. Morgan Stanley upgraded Commerce Bancshares from a “positive” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $76.00 in a research note on Tuesday. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Stephens set a $64.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Piper Sandler reissued a “neutral” rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Raymond James Financial raised shares of Commerce Bancshares to a “hold” rating in a report on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $64.86.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $58.27 on Wednesday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The business has a 50 day moving average of $58.79 and a 200 day moving average of $54.18.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter last year, the firm earned $1.14 EPS. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Insider Buying and Selling at Commerce Bancshares

In other news, VP David L. Orf sold 642 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the transaction, the vice president directly owned 24,962 shares of the company’s stock, valued at approximately $1,506,456.70. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Kemper sold 5,830 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total value of $353,181.40. Following the transaction, the chief executive officer owned 206,528 shares of the company’s stock, valued at approximately $12,511,466.24. This represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,150 shares of company stock worth $1,974,783 over the last ninety days. 1.80% of the stock is 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.