Clarus Wealth Advisors Increases Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Clarus Wealth Advisors lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 88.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,353 shares of the financial services provider’s stock after purchasing an additional 3,459 shares during the period. Clarus Wealth Advisors’ holdings in Commerce Bancshares were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CBSH. JPMorgan Chase & Co. lifted its position in shares of Commerce Bancshares by 21.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,844,892 shares of the financial services provider’s stock worth $108,536,000 after purchasing an additional 330,268 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $14,048,000. DekaBank Deutsche Girozentrale lifted its position in shares of Commerce Bancshares by 204.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 200,112 shares of the financial services provider’s stock worth $11,773,000 after purchasing an additional 134,439 shares during the period. Acadian Asset Management LLC lifted its position in shares of Commerce Bancshares by 48.2% in the 2nd quarter. Acadian Asset Management LLC now owns 303,071 shares of the financial services provider’s stock worth $18,078,000 after purchasing an additional 98,521 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Commerce Bancshares by 7.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,235,244 shares of the financial services provider’s stock worth $73,695,000 after purchasing an additional 90,176 shares during the period. 65.80% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CBSH traded up $1.16 during midday trading on Friday, reaching $60.02. 38,623 shares of the stock traded hands, compared to its average volume of 472,687. Commerce Bancshares, Inc. has a 12-month low of $53.40 and a 12-month high of $67.94. The business has a 50-day moving average of $58.81 and a two-hundred day moving average of $58.97. The stock has a market capitalization of $6.38 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 5.30 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 29.90% and a return on equity of 15.02%. The company had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.04 dividend on an annualized basis and a yield of 1.73%. Commerce Bancshares’s payout ratio is 27.51%.

In other Commerce Bancshares news, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.45, for a total transaction of $127,631.65. Following the transaction, the chief executive officer now owns 152,280 shares in the company, valued at approximately $9,357,606. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total transaction of $195,072.00. Following the transaction, the senior vice president now owns 17,120 shares in the company, valued at approximately $1,043,635.20. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several equities research analysts have recently weighed in on CBSH shares. DA Davidson upped their price target on shares of Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Morgan Stanley decreased their target price on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Thursday, October 3rd. Raymond James cut shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Stephens initiated coverage on shares of Commerce Bancshares in a research report on Monday, September 16th. They set a “weight” rating and a $59.00 target price for the company. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $58.57.

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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