The Manufacturers Life Insurance Company Takes $5.68 Million Position in Commerce Bancshares, Inc. $CBSH

The Manufacturers Life Insurance Company acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 98,307 shares of the financial services provider’s stock, valued at approximately $5,677,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBSH. Apriem Advisors boosted its position in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after buying an additional 191 shares during the last quarter. Heartland Bank & Trust Co raised its position in Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after buying an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC lifted its stake in Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares during the period. Centerpoint Advisory Group lifted its stake in Commerce Bancshares by 5.0% during the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 215 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.6%

Shares of Commerce Bancshares stock opened at $57.71 on Tuesday. The firm has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $53.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $60.92. The company has a market cap of $8.28 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $492.22 million. During the same period last year, the firm earned $1.14 EPS. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Commerce Bancshares to a “hold” rating in a research note on Thursday, August 27th. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. TD Cowen reaffirmed a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company set a $63.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.29.

Insiders Place Their Bets

In other news, CEO John W. Kemper sold 5,830 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction of $353,181.40. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at $12,511,466.24. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Derrick Brooks sold 1,041 shares of the company’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 value of $62,074.83. Following the transaction, the senior vice president directly owned 13,117 shares of the company’s stock, valued at approximately $782,166.71. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 33,150 shares of company stock valued at $1,974,783. 1.80% of the stock is owned by insiders.

Commerce Bancshares Company 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.