West Family Investments Inc. Makes New Investment in Commerce Bancshares, Inc. $CBSH

West Family Investments Inc. purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 8,853 shares of the financial services provider’s stock, valued at approximately $511,000.

A number of other large investors have also added to or reduced their stakes in CBSH. Waverly Advisors LLC bought a new position in shares of Commerce Bancshares in the second quarter worth approximately $468,000. Nykredit A S purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $286,000. Parkside Financial Bank & Trust boosted its position in shares of Commerce Bancshares by 18.1% during the second quarter. Parkside Financial Bank & Trust now owns 2,028 shares of the financial services provider’s stock valued at $117,000 after buying an additional 311 shares during the last quarter. Corient Private Wealth LP grew its stake in shares of Commerce Bancshares by 77.7% in the second quarter. Corient Private Wealth LP now owns 17,906 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 7,828 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Commerce Bancshares in the 2nd quarter worth approximately $508,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.2%

CBSH stock opened at $58.27 on Wednesday. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $60.92. The firm’s fifty day simple moving average is $58.79 and its two-hundred day simple moving average is $54.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $492.22 million. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. TD Cowen reissued 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. Piper Sandler reissued a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.86.

Insider Activity at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares in the company, valued at approximately $3,368,912.40. The trade was a 8.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Derrick Brooks sold 1,041 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the transaction, the senior vice president directly owned 13,117 shares of the company’s stock, valued at $782,166.71. This trade represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,150 shares of company stock worth $1,974,783 over the last three months. Corporate 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.