First National Bank of Omaha Makes New Investment in Commerce Bancshares, Inc. $CBSH

First National Bank of Omaha bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,882 shares of the financial services provider’s stock, valued at approximately $1,852,000.

Several other large investors have also modified their holdings of CBSH. Apriem Advisors boosted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after buying an additional 191 shares during the period. Heartland Bank & Trust Co raised its stake in shares of Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in shares of Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 214 shares during the last quarter. Centerpoint Advisory Group lifted its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 215 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the sale, the executive vice president directly owned 55,962 shares in the company, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David L. Orf sold 642 shares of Commerce Bancshares stock in a transaction on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the completion of the transaction, the vice president owned 24,962 shares of the company’s stock, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,484 shares of company stock valued at $1,936,055. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on CBSH shares. Piper Sandler reiterated a “neutral” rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Morgan Stanley reaffirmed a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, TD Cowen reissued a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $63.29.

Commerce Bancshares Trading Down 1.2%

Shares of CBSH stock opened at $58.87 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $60.92. The company has a 50 day moving average price of $58.17 and a 200 day moving average price of $53.76. The stock has a market capitalization of $8.44 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $1.14 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post 4.25 EPS 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 given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

About Commerce Bancshares

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.