Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,026 shares of the financial services provider’s stock after selling 1,726 shares during the period. Commerce Bancshares makes up about 2.1% of Waterfront Wealth Inc.’s portfolio, making the stock its 5th largest holding. Waterfront Wealth Inc. owned 0.11% of Commerce Bancshares worth $7,811,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CBSH. Norges Bank acquired a new stake in shares of Commerce Bancshares during the 4th quarter valued at $71,835,000. Vanguard Group Inc. lifted its position in shares of Commerce Bancshares by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 12,372,518 shares of the financial services provider’s stock valued at $660,816,000 after acquiring an additional 558,017 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Commerce Bancshares by 22.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock valued at $89,541,000 after acquiring an additional 302,630 shares during the last quarter. Commerce Bank lifted its position in shares of Commerce Bancshares by 2.8% during the 4th quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after acquiring an additional 196,431 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after acquiring an additional 168,550 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CBSH has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Jefferies Financial Group boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley boosted their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Seven 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 presently has a consensus rating of “Hold” and an average target price of $60.00.

Insider Activity

In other news, CEO John W. Kemper sold 5,156 shares of Commerce Bancshares stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 198,298 shares in the company, valued at $12,932,995.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO John W. Kemper sold 5,156 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 198,298 shares in the company, valued at approximately $12,932,995.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,281 shares of company stock worth $2,975,232. Insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded up $0.68 during mid-day trading on Friday, hitting $63.96. The company had a trading volume of 436,606 shares, compared to its average volume of 545,939. The business’s 50-day simple moving average is $60.30 and its 200-day simple moving average is $55.93. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The firm has a market cap of $8.29 billion, a P/E ratio of 17.82, a PEG ratio of 10.57 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.08%.

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.