Oxford Financial Group LTD. LLC Acquires New Holdings in Commerce Bancshares, Inc. $CBSH

Oxford Financial Group LTD. LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,790 shares of the financial services provider’s stock, valued at approximately $565,000.

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

Insider Activity

In related news, CEO John W. Kemper sold 5,830 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the transaction, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at approximately $12,511,466.24. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Orf sold 642 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the transaction, the vice president directly owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,484 shares of company stock worth $1,936,055. Corporate insiders own 1.80% of the company’s stock.

Commerce Bancshares Trading Down 0.1%

NASDAQ CBSH opened at $58.80 on Friday. The company has a market cap of $8.43 billion, a PE ratio of 14.24, a PEG ratio of 2.09 and a beta of 0.59. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The stock has a 50 day moving average of $58.24 and a 200-day moving average of $53.81.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) 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 business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same period last year, the business posted $1.14 EPS. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CBSH shares. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Stephens set a $64.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Morgan Stanley restated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target 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.