17,425 Shares in Commerce Bancshares, Inc. $CBSH Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,425 shares of the financial services provider’s stock, valued at approximately $1,006,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised 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 valued at $29,000 after buying an additional 216 shares during the last quarter. Invesco Ltd. grew its holdings in Commerce Bancshares by 2.0% in the 2nd quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider’s stock worth $53,780,000 after acquiring an additional 16,610 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Commerce Bancshares by 3.0% in the second quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 300 shares during the period. Jump Financial LLC purchased a new position in shares of Commerce Bancshares in the second quarter valued at about $376,000. Finally, California Public Employees Retirement System raised its stake in shares of Commerce Bancshares by 4.8% during the second quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider’s stock valued at $12,941,000 after acquiring an additional 9,483 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, VP David L. Orf sold 642 shares of the stock in a transaction on Friday, August 14th. The stock was 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 in the company, valued at approximately $1,506,456.70. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derrick Brooks sold 1,041 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the sale, the senior vice president owned 13,117 shares in the company, valued at approximately $782,166.71. This trade represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,484 shares of company stock valued at $1,936,055 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $58.05 on Friday. The company has a 50-day simple moving average of $58.57 and a two-hundred day simple moving average of $53.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $8.33 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.59. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92.

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, topping the consensus estimate of $1.04 by $0.06. The firm 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 prior year, the company earned $1.14 EPS. On average, analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Analyst Ratings Changes

CBSH has been the subject of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Morgan Stanley restated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, TD Cowen reiterated a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus price target of $63.29.

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.