Callan Family Office LLC Invests $330,000 in Commerce Bancshares, Inc. $CBSH

Key Points

• Callan Family Office LLC has invested approximately $330,000 in Commerce Bancshares, acquiring 5,312 shares in the second quarter.
• Analysts have mixed ratings on Commerce Bancshares, with a consensus Hold rating and a price target averaging $68.43.
• Commerce Bancshares recently announced a quarterly dividend of $0.275 per share, which represents a yield of 1.9% and an annualized payout of $1.10.

Callan Family Office LLC acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,312 shares of the financial services provider's stock, valued at approximately $330,000.

Other hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in shares of Commerce Bancshares by 4.5% during the second quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider's stock valued at $252,000 after buying an additional 174 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Commerce Bancshares by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider's stock valued at $2,128,000 after buying an additional 175 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Commerce Bancshares by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider's stock valued at $2,448,000 after buying an additional 190 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Commerce Bancshares by 0.7% during the first quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider's stock valued at $1,815,000 after buying an additional 200 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after buying an additional 216 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBSH. Hovde Group began coverage on Commerce Bancshares in a research report on Monday, October 6th. They set an "outperform" rating and a $70.00 price objective on the stock. Morgan Stanley increased their price objective on Commerce Bancshares from $66.00 to $70.00 and gave the company an "underperform" rating in a research report on Monday, September 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of Commerce Bancshares in a research report on Wednesday, October 8th. TD Cowen began coverage on Commerce Bancshares in a research report on Thursday, September 25th. They issued a "hold" rating and a $63.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Commerce Bancshares from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, September 29th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of "Hold" and a consensus price target of $68.43.

Commerce Bancshares Stock Performance

CBSH stock opened at $56.66 on Thursday. The firm has a fifty day moving average price of $60.24 and a 200 day moving average price of $61.37. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The firm has a market cap of $7.56 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 7.25 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.02 by $0.12. The company had revenue of $445.76 million during the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. Commerce Bancshares's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 earnings per share. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a $0.275 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares's payout ratio is currently 26.19%.

Commerce Bancshares Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.

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