Alyeska Investment Group L.P. Invests $32.50 Million in Commerce Bancshares, Inc. $CBSH

Alyeska Investment Group L.P. acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 562,834 shares of the financial services provider's stock, valued at approximately $32,504,000. Alyeska Investment Group L.P. owned approximately 0.39% of Commerce Bancshares as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Cookson Peirce & Co. Inc. lifted its stake in Commerce Bancshares by 7.2% during the second quarter. Cookson Peirce & Co. Inc. now owns 7,732 shares of the financial services provider's stock worth $447,000 after purchasing an additional 520 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Commerce Bancshares by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 103,960 shares of the financial services provider's stock valued at $6,004,000 after purchasing an additional 1,590 shares during the last quarter. Maxele Advisors LLC bought a new position in shares of Commerce Bancshares during the 2nd quarter valued at about $238,000. Jefferies Financial Group Inc. purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at about $751,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at about $2,311,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

CBSH opened at $58.04 on Monday. 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 52-week low of $46.99 and a 52-week high of $60.92. The stock has a market capitalization of $8.32 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The stock's 50 day moving average price is $58.64 and its 200-day moving average price is $53.97.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same quarter last year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business 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. The ex-dividend date is Friday, September 4th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares's dividend payout ratio is 26.63%.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of recent research reports. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research report on Monday, August 10th. Stephens set a $64.00 price objective on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research note on Friday, July 17th. Wall Street Zen raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Morgan Stanley reaffirmed a "positive" rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.29.

Insider Activity at Commerce Bancshares

In other news, CEO John W. Kemper sold 5,830 shares of the 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 completion of the transaction, the chief executive officer owned 206,528 shares of the company's stock, valued at approximately $12,511,466.24. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles G. Kim sold 19,771 shares of the firm'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 transaction, the chief financial officer owned 119,410 shares of the company's stock, valued at approximately $7,066,683.80. The trade was a 14.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,484 shares of company stock valued at $1,936,055 over the last three months. Corporate 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.

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