Focus Partners Advisor Solutions LLC Invests $1.26 Million in Commerce Bancshares, Inc. $CBSH

Key Points

• Focus Partners Advisor Solutions initiated a $1.26 million position in Commerce Bancshares during the second quarter by purchasing 21,896 shares. Institutional investors collectively own 70.26% of CBSH.
• Commerce Bancshares exceeded quarterly expectations, reporting $1.10 in EPS versus the $1.04 consensus and revenue of $498.91 million versus $492.22 million expected.
• Analysts maintain a consensus “Hold” rating with an average price target of $63.29, while the company declared a quarterly dividend of $0.275 per share, representing a 1.8% annualized yield.

Focus Partners Advisor Solutions LLC purchased a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 21,896 shares of the financial services provider's stock, valued at approximately $1,264,000.

A number of other hedge funds also recently bought and sold shares of CBSH. Apriem Advisors grew its position in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock valued at $210,000 after purchasing an additional 191 shares during the last quarter. Heartland Bank & Trust Co raised its holdings 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 buying an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC raised its holdings in Commerce Bancshares by 3.7% in the fourth 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 last quarter. Centerpoint Advisory Group lifted its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider's stock worth $237,000 after buying an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after buying an additional 216 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,041 shares of the stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 5,830 shares of the firm's stock in a transaction dated 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 directly owned 206,528 shares in the company, valued at $12,511,466.24. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,842 shares of company stock valued at $1,897,310 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CBSH shares. Stephens set a $64.00 price target on shares of Commerce Bancshares and gave the company an "equal weight" rating in a report on Friday, July 17th. Piper Sandler restated a "neutral" rating and issued a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Morgan Stanley reiterated a "positive" rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and an average price target of $63.29.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $60.27 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $57.84 and a 200-day moving average price of $53.62. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92. The firm has a market capitalization of $8.64 billion, a PE ratio of 14.59, a P/E/G ratio of 2.14 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. Commerce Bancshares's payout ratio is currently 26.63%.

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.

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