56,060 Shares in Commerce Bancshares, Inc. $CBSH Purchased by Algert Global LLC

Algert Global LLC acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,060 shares of the financial services provider's stock, valued at approximately $3,237,000.

Other large investors have also modified their holdings of the company. Apriem Advisors boosted its position in shares of 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 acquiring an additional 191 shares during the period. Heartland Bank & Trust Co raised its position 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 worth $240,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC lifted its position in shares of 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 worth $311,000 after buying an additional 214 shares during the period. Centerpoint Advisory Group grew its position 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 valued at $237,000 after acquiring an additional 215 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after acquiring an additional 216 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBSH has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $63.00 target price on Commerce Bancshares and gave the stock an "equal weight" rating in a report on Monday, August 10th. Morgan Stanley reiterated 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. Wall Street Zen raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a "market perform" rating in a report on Monday, July 20th. Finally, Stephens set a $64.00 price objective on shares of Commerce Bancshares and gave the stock an "equal weight" rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $63.29.

Insider Transactions at Commerce Bancshares

In related news, SVP Derrick Brooks sold 1,041 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the sale, the senior vice president directly owned 13,117 shares of the company's stock, valued at approximately $782,166.71. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David L. Orf sold 642 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the completion of the transaction, the vice president owned 24,962 shares in the company, valued at approximately $1,506,456.70. This represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 32,484 shares of company stock worth $1,936,055. 1.80% of the stock is currently owned by corporate insiders.

Commerce Bancshares Trading Down 0.0%

Shares of Commerce Bancshares stock opened at $58.04 on Friday. The stock has a fifty day moving average price of $58.64 and a 200-day moving average price of $53.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $8.32 billion, a PE ratio of 14.05, a P/E/G ratio of 2.07 and a beta of 0.59. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $492.22 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Commerce Bancshares's payout ratio is currently 26.63%.

About Commerce Bancshares

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.

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