9,472 Shares in Commerce Bancshares, Inc. $CBSH Bought by Cauble & Harre Wealth Management Inc.

Cauble & Harre Wealth Management Inc. purchased a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,472 shares of the financial services provider’s stock, valued at approximately $547,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Apriem Advisors boosted its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 191 shares during the period. Heartland Bank & Trust Co raised its stake in Commerce Bancshares by 4.4% during the 4th 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 period. Outlook Wealth Advisors LLC raised its stake in Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 214 shares during the period. Centerpoint Advisory Group lifted its holdings in 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 purchasing an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in 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 purchasing an additional 216 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $58.38 on Friday. 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 stock’s 50 day simple moving average is $58.30 and its two-hundred day simple moving average is $53.84. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.09 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data 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 business had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period in the prior year, the firm earned $1.14 EPS. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm 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 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 yield of 1.9%. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the sale, the executive vice president directly owned 55,962 shares of the company’s stock, valued at $3,368,912.40. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John W. Kemper sold 5,830 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total value of $353,181.40. Following the sale, the chief executive officer owned 206,528 shares in the company, valued at $12,511,466.24. The trade was a 2.75% 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 over the last quarter. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their target price 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. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Finally, TD Cowen reiterated 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. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.