ProShare Advisors LLC Purchases 80,997 Shares of Commerce Bancshares, Inc. $CBSH

ProShare Advisors LLC raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 648,010 shares of the financial services provider’s stock after buying an additional 80,997 shares during the period. ProShare Advisors LLC’s holdings in Commerce Bancshares were worth $33,917,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Heartland Bank & Trust Co raised its holdings in shares of 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 period. Profund Advisors LLC boosted its holdings in Commerce Bancshares by 4.4% during the 3rd quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 197 shares during the period. Crossmark Global Holdings Inc. grew its position in Commerce Bancshares by 2.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 215 shares during the last quarter. Elser Financial Planning Inc increased its stake in Commerce Bancshares by 5.0% in the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 215 shares during the period. Finally, Centerpoint Advisory Group increased its stake in 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 purchasing an additional 215 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.9%

Shares of CBSH stock opened at $52.27 on Thursday. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $63.19. The stock has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $51.72. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 3.52 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Research analysts predict that Commerce Bancshares, Inc. will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.38%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen reissued a “hold” rating and set a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a report on Friday, March 27th. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.30.

Insider Activity

In other news, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $51.69, for a total transaction of $44,505.09. Following the transaction, the senior vice president directly owned 5,742 shares in the company, valued at approximately $296,803.98. This trade represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy S. Dunn acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $47.71 per share, for a total transaction of $119,275.00. Following the completion of the acquisition, the director owned 5,403 shares of the company’s stock, valued at $257,777.13. This trade represents a 86.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

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.