Eagle Bay Advisors LLC Has $56,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Eagle Bay Advisors LLC lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2,864.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,008 shares of the financial services provider’s stock after purchasing an additional 974 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Commerce Bancshares were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBSH. Cambridge Investment Research Advisors Inc. raised its stake in Commerce Bancshares by 0.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after acquiring an additional 154 shares in the last quarter. &PARTNERS bought a new stake in Commerce Bancshares during the 2nd quarter worth $396,000. Elser Financial Planning Inc bought a new position in Commerce Bancshares in the second quarter valued at about $229,000. Fifth Third Wealth Advisors LLC bought a new position in Commerce Bancshares in the second quarter valued at about $197,000. Finally, Marshall Financial Group LLC acquired a new stake in shares of Commerce Bancshares during the second quarter valued at about $1,006,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH traded up $0.56 during mid-day trading on Wednesday, hitting $63.49. The company had a trading volume of 1,865,711 shares, compared to its average volume of 512,180. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86. The firm has a fifty day moving average price of $59.71 and a 200 day moving average price of $55.70. The company has a market capitalization of $8.19 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 10.46 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.70%. Commerce Bancshares’s payout ratio is 30.12%.

Insider Activity

In other Commerce Bancshares news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the sale, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the transaction, the executive vice president now directly owns 50,293 shares in the company, valued at $3,256,471.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kemper sold 5,156 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the transaction, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The disclosure for this sale can be found here. Insiders sold 46,281 shares of company stock worth $2,975,232 over the last three months. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CBSH has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $60.00.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.