Pallas Capital Advisors LLC Invests $868,000 in Commerce Bancshares, Inc. $CBSH

Pallas Capital Advisors LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,032 shares of the financial services provider’s stock, valued at approximately $868,000.

Other institutional investors have also added to or reduced their stakes in the company. Apriem Advisors boosted its holdings in shares of Commerce Bancshares by 5.0% in 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 in the last quarter. Heartland Bank & Trust Co boosted its stake 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 valued at $240,000 after buying an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC boosted its stake 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 valued at $311,000 after buying an additional 214 shares in the last quarter. Centerpoint Advisory Group grew its position 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 valued at $237,000 after acquiring an additional 215 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Down 0.3%

NASDAQ:CBSH opened at $59.56 on Wednesday. The firm’s 50 day simple moving average is $58.08 and its 200 day simple moving average is $53.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company has a market cap of $8.54 billion, a PE ratio of 14.42, a P/E/G ratio of 2.14 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share 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 firm had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same period in the previous year, the firm posted $1.14 EPS. On average, research analysts anticipate 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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s payout ratio is 26.63%.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of research reports. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a report on Monday, August 10th. Hovde Group decreased their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Morgan Stanley reaffirmed 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. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.29.

Insider Buying and Selling

In related news, CFO Charles G. Kim sold 19,771 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the completion of the transaction, the chief financial officer directly owned 119,410 shares of the company’s stock, valued at $7,066,683.80. This trade represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Derrick Brooks sold 1,041 shares of Commerce Bancshares 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 directly owned 13,117 shares in the company, valued at $782,166.71. The trade was a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,484 shares of company stock valued at $1,936,055 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.