Pallas Capital Advisors LLC Invests $868,000 in Commerce Bancshares, Inc. $CBSH

Pallas Capital Advisors LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,032 shares of the financial services provider’s stock, valued at approximately $868,000.

Other large investors also recently modified their holdings of the company. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 216 shares during the last quarter. Root Financial Partners LLC boosted its position in Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 319 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Commerce Bancshares during the 4th quarter worth about $34,000. Finally, Rothschild Investment LLC grew its holdings in Commerce Bancshares by 75.3% during the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 443 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBSH. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. TD Cowen reaffirmed a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research note 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, the stock currently has an average rating of “Hold” and a consensus target price of $63.29.

Commerce Bancshares Trading Down 0.3%

NASDAQ:CBSH opened at $59.56 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.14 and a beta of 0.59. The firm has a fifty day simple moving average of $58.08 and a two-hundred day simple moving average of $53.72. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. Analysts expect that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company 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. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio is 26.63%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the transaction, the executive vice president owned 55,962 shares in the company, valued at approximately $3,368,912.40. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles G. Kim sold 19,771 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the sale, the chief financial officer directly owned 119,410 shares of the company’s stock, valued at $7,066,683.80. This trade represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,484 shares of company stock worth $1,936,055 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.