9,790 Shares in Commerce Bancshares, Inc. $CBSH Purchased by Oxford Financial Group LTD. LLC

Oxford Financial Group LTD. LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,790 shares of the financial services provider’s stock, valued at approximately $565,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. BlackRock Inc. acquired a new position in Commerce Bancshares in the second quarter worth $755,669,000. State Street Corp grew its holdings in shares of Commerce Bancshares by 8.4% during the fourth quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock worth $383,071,000 after purchasing an additional 566,853 shares during the last quarter. Commerce Bank increased its stake in shares of Commerce Bancshares by 7.0% in the fourth quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock valued at $296,287,000 after buying an additional 369,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 29.3% during 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 buying an additional 894,183 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, CEO John W. Kemper sold 5,830 shares of Commerce Bancshares stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the transaction, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at $12,511,466.24. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the transaction, the executive vice president directly owned 55,962 shares of the company’s stock, valued at $3,368,912.40. This trade represents a 8.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,484 shares of company stock valued at $1,936,055. 1.80% of the stock is currently owned by company insiders.

Commerce Bancshares Trading Down 0.1%

NASDAQ:CBSH opened at $58.80 on Friday. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The business’s 50-day moving average price is $58.24 and its two-hundred day moving average price is $53.81. 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 market capitalization of $8.43 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.09 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last issued 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. The firm had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same quarter last year, the business earned $1.14 earnings per share. On average, equities analysts expect that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Monday, July 20th. TD Cowen restated 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. Stephens set a $64.00 price objective on Commerce Bancshares and gave the stock an “equal weight” rating in a report on Friday, July 17th. Finally, Morgan Stanley reiterated a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.