Healthcare of Ontario Pension Plan Trust Fund Buys New Holdings in Commerce Bancshares, Inc. $CBSH

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 29,200 shares of the financial services provider’s stock, valued at approximately $1,437,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the last quarter. Verition Fund Management LLC boosted its position in Commerce Bancshares by 39.8% during the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after buying an additional 179,894 shares during the period. Geode Capital Management LLC grew its holdings in Commerce Bancshares by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after acquiring an additional 174,863 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after acquiring an additional 894,183 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC purchased a new position in shares of Commerce Bancshares in the first quarter valued at about $3,390,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CBSH shares. Wells Fargo & Company increased their target price on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Stephens set a $64.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a report on Friday, July 17th. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Morgan Stanley reiterated a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Finally, TD Cowen reiterated a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $62.43.

Commerce Bancshares Trading Down 0.3%

NASDAQ:CBSH opened at $59.27 on Friday. The company has a 50-day moving average price of $56.37 and a 200-day moving average price of $53.23. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.12 and a beta of 0.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $492.22 million. During the same quarter in the previous year, the company earned $1.14 earnings per share. Equities analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, 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 transaction of $62,074.83. Following the transaction, the senior vice president owned 13,117 shares in the company, valued at approximately $782,166.71. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,842 shares of company stock valued at $1,897,310. 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.