Quantinno Capital Management LP Buys 14,625 Shares of Commerce Bancshares, Inc. $CBSH

Quantinno Capital Management LP lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 207,404 shares of the financial services provider’s stock after acquiring an additional 14,625 shares during the quarter. Quantinno Capital Management LP’s holdings in Commerce Bancshares were worth $10,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Danske Bank A S acquired a new position in Commerce Bancshares during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its position in shares of 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 purchasing an additional 216 shares during the last quarter. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $25,000. Root Financial Partners LLC raised its stake in shares of Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CBSH shares. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Hovde Group cut their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley reissued a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Stephens set a $64.00 price objective on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.43.

Commerce Bancshares Stock Up 0.4%

CBSH stock opened at $59.93 on Wednesday. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The business’s 50 day simple moving average is $56.66 and its 200 day simple moving average is $53.31. 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 firm has a market capitalization of $8.74 billion, a PE ratio of 14.51, a PEG ratio of 2.14 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $492.22 million. During the same quarter last year, the firm posted $1.14 EPS. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced 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 1.8%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 19,771 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $59.18, for a total value of $1,170,047.78. Following the transaction, the chief financial officer directly owned 119,410 shares of the company’s stock, valued at $7,066,683.80. This represents a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Kemper sold 5,830 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction of $353,181.40. Following the sale, the chief executive officer owned 206,528 shares of the company’s stock, valued at $12,511,466.24. This trade represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 31,842 shares of company stock worth $1,897,310. 1.80% of the stock is currently owned by corporate 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.