West Family Investments Inc. Acquires Shares of 8,853 Commerce Bancshares, Inc. $CBSH

West Family Investments Inc. bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, Holdings Channel.com reports. The fund bought 8,853 shares of the financial services provider’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Apriem Advisors grew 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 valued at $210,000 after acquiring an additional 191 shares in the last quarter. Heartland Bank & Trust Co lifted its position in Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC grew its stake 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 buying an additional 214 shares in the last quarter. Centerpoint Advisory Group grew its stake 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 buying an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

CBSH has been the subject of a number of analyst reports. TD Cowen reaffirmed a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. 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 note on Wednesday, April 22nd. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Wells Fargo & Company set a $63.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $63.29.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $58.87 on Thursday. 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 firm 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’s 50-day moving average is $58.17 and its 200 day moving average is $53.76.

Commerce Bancshares (NASDAQ:CBSH) last announced its 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. The business had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same quarter in the previous year, the business earned $1.14 earnings per share. Research analysts forecast that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced 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. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, VP David L. Orf sold 642 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 24,962 shares of the company’s stock, valued at $1,506,456.70. The trade was a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles G. Kim sold 19,771 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 119,410 shares of the company’s stock, valued at $7,066,683.80. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,484 shares of company stock worth $1,936,055 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.