Ieq Capital LLC Acquires New Holdings in Commerce Bancshares, Inc. $CBSH

Ieq Capital LLC bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 124,253 shares of the financial services provider’s stock, valued at approximately $7,176,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in Commerce Bancshares during the third quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares in the second quarter worth $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of Commerce Bancshares by 85.4% during the 1st 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 during the period. Root Financial Partners LLC boosted its holdings in shares of Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after buying an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares in the 4th quarter valued at $34,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Commerce Bancshares

In related 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 transaction of $353,181.40. Following the sale, the chief executive officer directly owned 206,528 shares in the company, valued at $12,511,466.24. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total value of $62,074.83. Following the sale, the senior vice president directly owned 13,117 shares of the company’s stock, valued at $782,166.71. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 32,484 shares of company stock valued at $1,936,055. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CBSH. TD Cowen reiterated a “hold” rating and issued a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company set a $63.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average price target of $63.29.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $58.38 on Monday. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $58.30 and a two-hundred day moving average of $53.84. The stock has a market cap of $8.37 billion, a PE ratio of 14.14, a PEG ratio of 2.08 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. During the same quarter last year, the company posted $1.14 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed 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. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend 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.