Sanctuary Advisors LLC Buys Shares of 20,535 Commerce Bancshares, Inc. $CBSH

Sanctuary Advisors LLC purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,535 shares of the financial services provider’s stock, valued at approximately $1,186,000.

A number of other hedge funds have also modified their holdings of CBSH. Danske Bank A S acquired a new position in Commerce Bancshares in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 216 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares during the 2nd quarter valued at about $29,000. Root Financial Partners LLC lifted 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 valued at $31,000 after buying an additional 319 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $34,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares in the company, valued at $3,368,912.40. This represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Kemper sold 5,830 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total value of $353,181.40. Following the completion of the sale, the chief executive officer directly owned 206,528 shares in the company, valued at $12,511,466.24. This trade represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,484 shares of company stock valued at $1,936,055 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $58.05 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $58.57 and a 200-day simple moving average of $53.95. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.08 and a beta of 0.59. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period last year, the business posted $1.14 EPS. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several recent research reports. Wells Fargo & Company set a $63.00 price objective on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Morgan Stanley restated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. TD Cowen restated a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three research 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, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $63.29.

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.