UMB Bank N A MO increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,684 shares of the financial services provider’s stock after buying an additional 1,485 shares during the period. UMB Bank N A MO’s holdings in Commerce Bancshares were worth $10,780,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Comerica Bank increased its stake in shares of Commerce Bancshares by 3.3% in the first quarter. Comerica Bank now owns 93,208 shares of the financial services provider’s stock valued at $5,224,000 after buying an additional 3,017 shares in the last quarter. Wesbanco Bank Inc. increased its stake in shares of Commerce Bancshares by 11.2% in the first quarter. Wesbanco Bank Inc. now owns 9,300 shares of the financial services provider’s stock valued at $522,000 after buying an additional 940 shares in the last quarter. Elkfork Partners LLC increased its stake in shares of Commerce Bancshares by 18.2% in the first quarter. Elkfork Partners LLC now owns 7,282 shares of the financial services provider’s stock valued at $409,000 after buying an additional 1,122 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Commerce Bancshares by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 15,822 shares of the financial services provider’s stock valued at $889,000 after buying an additional 11,434 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Commerce Bancshares during the first quarter valued at $64,025,000. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 55.22 on Friday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 20.01 and a beta of 0.81. Commerce Bancshares, Inc. has a 1-year low of $45.37 and a 1-year high of $60.61. The company has a 50-day moving average price of $57.34 and a 200-day moving average price of $56.49.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.63%. Commerce Bancshares’s payout ratio is 32.64%.

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Several analysts have recently weighed in on CBSH shares. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Barclays PLC set a $58.00 target price on Commerce Bancshares and gave the company a “hold” rating in a research note on Sunday, July 16th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Wells Fargo & Company restated a “market perform” rating and set a $53.00 target price (up from $51.00) on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Friday, July 14th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Commerce Bancshares has an average rating of “Hold” and an average target price of $55.00.

In related news, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the sale, the chairman now owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the completion of the sale, the insider now directly owns 1,045,605 shares in the company, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,099 shares of company stock worth $2,643,431. Insiders own 4.30% of the company’s stock.

Commerce Bancshares Company Profile

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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