West Family Investments Inc. Purchases New Shares in Commerce Bancshares, Inc. $CBSH

West Family Investments Inc. bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,853 shares of the financial services provider’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBSH. BlackRock Inc. bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $755,669,000. Norges Bank bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $85,282,000. Champlain Investment Partners LLC bought a new stake in Commerce Bancshares during the 4th quarter worth approximately $58,830,000. Vanguard Group Inc. raised its position in shares of Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock worth $59,965,000 after purchasing an additional 1,070,980 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CBSH has been the subject of a number of research analyst reports. Hovde Group dropped their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Morgan Stanley restated a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Finally, Stephens set a $64.00 target price on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.29.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $58.87 on Thursday. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The business’s fifty day simple moving average is $58.17 and its two-hundred day simple moving average is $53.76. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 2.12 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 (NASDAQ:CBSH) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share 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 business had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the previous year, the firm earned $1.14 EPS. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 earnings per share 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. Investors of record on Friday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s payout ratio is presently 26.63%.

Insider Activity

In other news, VP David L. Orf sold 642 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the transaction, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the transaction, the senior vice president directly owned 13,117 shares in the company, valued at approximately $782,166.71. The trade was a 7.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 32,484 shares of company stock worth $1,936,055. Company insiders own 1.80% of the company’s stock.

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.