Sei Investments Co. Increases Stake in Commerce Bancshares, Inc. $CBSH

Sei Investments Co. lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 73.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 281,210 shares of the financial services provider’s stock after purchasing an additional 119,298 shares during the period. Sei Investments Co.’s holdings in Commerce Bancshares were worth $13,836,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Danske Bank A S acquired a new stake in Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its holdings 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 worth $29,000 after acquiring an additional 216 shares in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $25,000. Root Financial Partners LLC increased its position in shares of Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 319 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Down 1.5%

Shares of Commerce Bancshares stock opened at $59.44 on Friday. The company has a fifty day simple moving average of $56.23 and a 200-day simple moving average of $53.18. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.16 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping 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 firm had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same period last year, the business earned $1.14 EPS. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the transaction, the senior vice president owned 13,117 shares of the company’s stock, valued at approximately $782,166.71. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the sale, the chief financial officer owned 119,410 shares in the company, valued at $7,066,683.80. This trade represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,842 shares of company stock valued at $1,596,310. 1.80% of the stock is currently owned by insiders.

Commerce Bancshares News Summary

Here are the key news stories impacting Commerce Bancshares this week:

• Positive Sentiment: Value-stock appeal: Zacks highlighted CBSH as a strong value stock, which may attract investors seeking a profitable regional bank trading at a relatively reasonable valuation. Here’s Why Commerce Bancshares Is a Strong Value Stock
• Positive Sentiment: Recent earnings beat estimates: Commerce Bancshares reported quarterly EPS of $1.10, exceeding the $1.04 consensus estimate, while revenue of $498.91 million also topped expectations of $492.22 million. The company generated a 26.07% net margin and 14.31% return on equity, supporting the fundamental case for the stock.
• Neutral Sentiment: Analyst outlook remains mixed: Several firms recently raised their price targets, including Piper Sandler to $66 and Keefe, Bruyette & Woods to $62, but ratings remain mostly neutral. CBSH has an overall “Hold” consensus and an average target price of $62.43, implying limited upside from recent levels.
• Negative Sentiment: Multiple insiders sold shares: CEO John W. Kemper sold 5,830 shares worth approximately $353,181, CFO Charles G. Kim sold 19,771 shares worth about $1.17 million, and SVP Derrick Brooks sold 1,041 shares valued at roughly $62,075. The transactions reduced their individual holdings by approximately 2.75%, 14.21%, and 7.35%, respectively. Although insider sales can reflect personal financial planning rather than concerns about business prospects, the concentration of selling may weigh on sentiment, particularly with the stock near its 52-week high. Commerce Bancshares Insider Selling

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. TD Cowen restated a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Hovde Group lowered their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $62.43.

Commerce Bancshares Company 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.