Sanctuary Advisors LLC Makes New $1.19 Million Investment in Commerce Bancshares, Inc. $CBSH

Sanctuary Advisors LLC acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, Holdings Channel.com reports. The firm acquired 20,535 shares of the financial services provider’s stock, valued at approximately $1,186,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares in the last quarter. BlackRock Inc. acquired a new position in Commerce Bancshares in the 2nd quarter valued at approximately $755,669,000. State Street Corp raised its holdings in Commerce Bancshares by 8.4% in the 4th quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock valued at $383,071,000 after acquiring an additional 566,853 shares in the last quarter. Commerce Bank raised its holdings in Commerce Bancshares by 7.0% in the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock valued at $296,287,000 after acquiring an additional 369,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after acquiring an additional 894,183 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.8%

Shares of NASDAQ CBSH opened at $58.05 on Friday. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $58.57 and a two-hundred day moving average of $53.95. The stock has a market cap of $8.33 billion, a PE ratio of 14.06, a PEG ratio of 2.08 and a beta of 0.59.

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 analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter last year, the company posted $1.14 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Insiders Place Their Bets

In other Commerce Bancshares news, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the transaction, the chief financial officer owned 119,410 shares in the company, valued at approximately $7,066,683.80. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 5,830 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total value of $353,181.40. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at approximately $12,511,466.24. This represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,484 shares of company stock worth $1,936,055 over the last ninety days. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CBSH. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Morgan Stanley reaffirmed a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Piper Sandler reiterated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the company an “equal weight” rating in a report on Monday, August 10th. Finally, Stephens set a $64.00 price objective on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.29.

About Commerce Bancshares

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.