Sei Investments Co. raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 179,377 shares of the financial services provider’s stock after buying an additional 8,961 shares during the period. Sei Investments Co.’s holdings in Commerce Bancshares were worth $10,194,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CBSH. Glen Harbor Capital Management LLC increased its position in shares of Commerce Bancshares by 18.2% in the first quarter. Glen Harbor Capital Management LLC now owns 11,254 shares of the financial services provider’s stock worth $632,000 after buying an additional 1,734 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Commerce Bancshares during the first quarter worth $269,000. ProShare Advisors LLC increased its position in shares of Commerce Bancshares by 17.0% in the first quarter. ProShare Advisors LLC now owns 183,856 shares of the financial services provider’s stock worth $10,325,000 after buying an additional 26,724 shares during the period. Profund Advisors LLC increased its position in shares of Commerce Bancshares by 3.6% in the first quarter. Profund Advisors LLC now owns 15,400 shares of the financial services provider’s stock worth $865,000 after buying an additional 530 shares during the period. Finally, UMB Bank N A MO increased its position in shares of Commerce Bancshares by 4.6% in the first quarter. UMB Bank N A MO now owns 188,199 shares of the financial services provider’s stock worth $10,569,000 after buying an additional 8,346 shares during the period. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at 55.37 on Friday. The firm has a market cap of $5.63 billion, a P/E ratio of 20.06 and a beta of 0.81. Commerce Bancshares, Inc. has a 52-week low of $45.37 and a 52-week high of $60.61. The stock has a 50 day moving average price of $57.37 and a 200 day moving average price of $56.48.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 25.68% and a return on equity of 12.42%. The firm had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter last year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be issued a $0.225 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.63%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 32.64%.

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A number of brokerages have weighed in on CBSH. Wells Fargo & Company reissued a “market perform” rating and set a $53.00 price target (up previously from $51.00) on shares of Commerce Bancshares in a research report on Friday, July 14th. Piper Jaffray Companies reissued a “hold” rating and set a $52.00 price target on shares of Commerce Bancshares in a research report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a research report on Friday, July 14th. Stephens reissued an “equal weight” rating and set a $56.00 price target (up previously from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. Finally, Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, July 17th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $55.00.

In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the sale, the insider now owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery D. Aberdeen sold 687 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the sale, the insider now directly owns 40,232 shares in the company, valued at approximately $2,377,308.88. The disclosure for this sale can be found here. Insiders sold a total of 48,099 shares of company stock worth $2,643,431 in the last ninety days. 4.30% of the stock is currently owned by insiders.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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