Quantinno Capital Management LP Buys 14,625 Shares of Commerce Bancshares, Inc. $CBSH

Quantinno Capital Management LP raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 207,404 shares of the financial services provider’s stock after buying an additional 14,625 shares during the quarter. Quantinno Capital Management LP owned about 0.14% of Commerce Bancshares worth $10,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Apriem Advisors boosted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 191 shares during the last quarter. Heartland Bank & Trust Co increased its stake in Commerce Bancshares by 4.4% in the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its stake in Commerce Bancshares by 3.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 214 shares in the last quarter. Centerpoint Advisory Group raised its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 215 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CBSH. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. TD Cowen reaffirmed a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Hovde Group decreased their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.43.

Insider Transactions at Commerce Bancshares

In related news, CEO John W. Kemper sold 5,830 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total value of $353,181.40. Following the sale, the chief executive officer owned 206,528 shares of the company’s stock, valued at approximately $12,511,466.24. This trade represents a 2.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles G. Kim sold 19,771 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the sale, the chief financial officer owned 119,410 shares in the company, valued at $7,066,683.80. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,842 shares of company stock valued at $1,897,310 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Commerce Bancshares Trading Up 0.4%

CBSH opened at $59.93 on Wednesday. The stock has a market capitalization of $8.74 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.14 and a beta of 0.59. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The firm’s fifty day simple moving average is $56.66 and its 200 day simple moving average is $53.31.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $492.22 million. During the same quarter in the prior year, the company earned $1.14 EPS. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Commerce Bancshares Profile

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.