Pacer Advisors Inc. acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,900 shares of the financial services provider’s stock, valued at approximately $969,000.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in Commerce Bancshares by 44.3% in the second quarter. SG Americas Securities LLC now owns 28,711 shares of the financial services provider’s stock valued at $1,398,000 after buying an additional 8,809 shares during the last quarter. Duality Advisers LP raised its stake in Commerce Bancshares by 132.1% in the first quarter. Duality Advisers LP now owns 6,962 shares of the financial services provider’s stock valued at $406,000 after buying an additional 3,962 shares during the last quarter. ProShare Advisors LLC raised its stake in Commerce Bancshares by 1.4% in the first quarter. ProShare Advisors LLC now owns 526,541 shares of the financial services provider’s stock valued at $30,724,000 after buying an additional 7,437 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in Commerce Bancshares by 49.4% in the first quarter. Brandywine Global Investment Management LLC now owns 168,369 shares of the financial services provider’s stock valued at $9,824,000 after buying an additional 55,680 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Commerce Bancshares by 27.6% in the first quarter. Ameriprise Financial Inc. now owns 201,273 shares of the financial services provider’s stock valued at $11,744,000 after buying an additional 43,504 shares during the last quarter. Institutional investors own 69.63% of the company’s stock.
Commerce Bancshares Trading Up 0.7 %
Shares of NASDAQ:CBSH opened at $47.90 on Friday. Commerce Bancshares, Inc. has a 52-week low of $45.55 and a 52-week high of $72.60. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 12.03 and a beta of 0.75. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $50.13 and a 200-day moving average price of $51.53.
Commerce Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Wednesday, September 6th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 27.13%.
Analyst Upgrades and Downgrades
CBSH has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Commerce Bancshares in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $48.00 to $49.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.00.
Get Our Latest Stock Report on CBSH
Insider Transactions at Commerce Bancshares
In other news, Director Blackford F. Brauer purchased 5,000 shares of the stock in a transaction dated Friday, July 28th. The shares were purchased at an average cost of $53.00 per share, with a total value of $265,000.00. Following the completion of the purchase, the director now directly owns 23,172 shares of the company’s stock, valued at approximately $1,228,116. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Commerce Bancshares news, SVP Paula S. Petersen sold 2,068 shares of Commerce Bancshares stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $46.61, for a total value of $96,389.48. Following the sale, the senior vice president now owns 29,984 shares in the company, valued at $1,397,554.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blackford F. Brauer bought 5,000 shares of Commerce Bancshares stock in a transaction on Friday, July 28th. The stock was acquired at an average price of $53.00 per share, for a total transaction of $265,000.00. Following the transaction, the director now directly owns 23,172 shares of the company’s stock, valued at $1,228,116. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 15,000 shares of company stock valued at $751,200 and have sold 6,957 shares valued at $334,258. Corporate insiders own 3.20% of the company’s stock.
Commerce Bancshares Profile
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.
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