River & Mercantile Asset Management LLP acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,433 shares of the financial services provider’s stock, valued at approximately $1,279,000.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Commerce Bancshares by 5.9% during the first quarter. First Trust Advisors LP now owns 202,361 shares of the financial services provider’s stock valued at $11,749,000 after purchasing an additional 11,336 shares in the last quarter. Champlain Investment Partners LLC grew its stake in Commerce Bancshares by 3.4% during the first quarter. Champlain Investment Partners LLC now owns 1,242,242 shares of the financial services provider’s stock valued at $72,125,000 after acquiring an additional 40,762 shares in the last quarter. Citadel Advisors LLC grew its stake in Commerce Bancshares by 21.3% during the second quarter. Citadel Advisors LLC now owns 10,588 shares of the financial services provider’s stock valued at $632,000 after acquiring an additional 1,858 shares in the last quarter. Arizona State Retirement System grew its stake in Commerce Bancshares by 0.7% during the second quarter. Arizona State Retirement System now owns 71,382 shares of the financial services provider’s stock valued at $4,259,000 after acquiring an additional 508 shares in the last quarter. Finally, Dearborn Partners LLC grew its stake in Commerce Bancshares by 4.1% during the second quarter. Dearborn Partners LLC now owns 387,194 shares of the financial services provider’s stock valued at $23,100,000 after acquiring an additional 15,308 shares in the last quarter. 65.80% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CBSH traded up $0.32 during midday trading on Wednesday, reaching $58.42. 2,401 shares of the stock traded hands, compared to its average volume of 439,867. The company has a fifty day moving average of $58.77 and a 200 day moving average of $58.96. Commerce Bancshares, Inc. has a 12 month low of $53.40 and a 12 month high of $67.94. The stock has a market capitalization of $6.12 billion, a P/E ratio of 15.37, a PEG ratio of 5.37 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. The company had revenue of $338.90 million during the quarter, compared to analyst estimates of $339.94 million. Commerce Bancshares had a net margin of 29.90% and a return on equity of 15.02%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. As a group, analysts forecast that Commerce Bancshares, Inc. will post 3.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s payout ratio is currently 27.51%.

CBSH has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research report on Wednesday, June 12th. Stephens started coverage on shares of Commerce Bancshares in a report on Monday, September 16th. They issued a “weight” rating and a $59.00 price objective for the company. DA Davidson boosted their price objective on shares of Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Raymond James lowered shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th. Finally, BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $58.57.

In other Commerce Bancshares news, SVP Jeffrey M. Burik sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total transaction of $195,072.00. Following the transaction, the senior vice president now directly owns 17,120 shares of the company’s stock, valued at approximately $1,043,635.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 2,077 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.45, for a total transaction of $127,631.65. Following the transaction, the chief executive officer now directly owns 152,280 shares in the company, valued at $9,357,606. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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

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