87,804 Shares in Commerce Bancshares, Inc. $CBSH Acquired by Man Group plc

Man Group plc acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 87,804 shares of the financial services provider’s stock, valued at approximately $5,071,000.

Several other institutional investors have also added to or reduced their stakes in CBSH. Vanguard Group Inc. increased its holdings in Commerce Bancshares by 8.1% in the 4th 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. Bank of America Corp DE lifted its stake in Commerce Bancshares by 62.9% during the 1st quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock valued at $50,775,000 after acquiring an additional 398,670 shares during the period. Verition Fund Management LLC lifted its stake in Commerce Bancshares by 39.8% during the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after acquiring an additional 179,894 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Commerce Bancshares by 29.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after acquiring an additional 894,183 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC purchased a new stake in shares of Commerce Bancshares during the 1st quarter valued at about $3,390,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CBSH. TD Cowen reissued a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company set a $63.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.29.

Insiders Place Their Bets

In related news, CEO John W. Kemper sold 5,830 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction 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. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 of the company’s stock, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,484 shares of company stock valued at $1,936,055. 1.80% of the stock is currently owned by corporate insiders.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $58.04 on Monday. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92. The firm has a fifty day moving average price of $58.64 and a 200-day moving average price of $53.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 2.06 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

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

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.