Mutual Advisors LLC Raises Stake in Commerce Bancshares, Inc. $CBSH

Mutual Advisors LLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 492,663 shares of the financial services provider’s stock after buying an additional 23,874 shares during the quarter. Commerce Bancshares accounts for approximately 0.6% of Mutual Advisors LLC’s portfolio, making the stock its 26th largest holding. Mutual Advisors LLC’s holdings in Commerce Bancshares were worth $25,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Danske Bank A S purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. increased its stake 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 purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $25,000. Quent Capital LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $31,000. Finally, Rothschild Investment LLC increased its stake in shares of Commerce Bancshares by 3,820.0% during the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 573 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 1.6%

CBSH opened at $52.03 on Friday. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 3.66 and a beta of 0.60. The firm has a 50-day moving average price of $50.19 and a 200-day moving average price of $51.71. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million during the quarter, compared to the consensus estimate of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 4.1 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. Commerce Bancshares’s dividend payout ratio is currently 26.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CBSH shares. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research note on Friday, March 27th. Hovde Group dropped their price target on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Wall Street Zen raised Commerce Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Morgan Stanley dropped their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.16.

Insider Activity

In other Commerce Bancshares news, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the sale, the senior vice president owned 12,741 shares in the company, valued at $655,524.45. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy S. Dunn bought 2,500 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the transaction, the director owned 5,403 shares of the company’s stock, valued at approximately $257,777.13. This represents a 86.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 29,477 shares of company stock valued at $1,586,655. 1.80% of the stock is currently owned by corporate 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.