GW Henssler & Associates Ltd. trimmed its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 19.9% in the second quarter, Holdings Channel reports. The firm owned 3,648 shares of the financial services provider’s stock after selling 906 shares during the period. GW Henssler & Associates Ltd.’s holdings in Commerce Bancshares were worth $236,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Commerce Bancshares during the 2nd quarter worth about $1,638,000. Advanced Asset Management Advisors Inc acquired a new position in Commerce Bancshares during the second quarter worth approximately $602,000. Victory Capital Management Inc. increased its position in Commerce Bancshares by 16.4% during the second quarter. Victory Capital Management Inc. now owns 66,897 shares of the financial services provider’s stock worth $4,329,000 after buying an additional 9,419 shares during the period. First Trust Advisors LP increased its position in Commerce Bancshares by 6.2% during the second quarter. First Trust Advisors LP now owns 231,474 shares of the financial services provider’s stock worth $14,979,000 after buying an additional 13,428 shares during the period. Finally, Cooke & Bieler LP increased its position in Commerce Bancshares by 5.0% during the second quarter. Cooke & Bieler LP now owns 580,754 shares of the financial services provider’s stock worth $37,581,000 after buying an additional 27,701 shares during the period. 65.35% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares opened at $69.42 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $7.45 billion, a PE ratio of 20.87, a P/E/G ratio of 1.86 and a beta of 0.67. Commerce Bancshares, Inc. has a 12-month low of $51.90 and a 12-month high of $70.00.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 12th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. The business had revenue of $335.81 million for the quarter, compared to analyst estimates of $319.25 million. Commerce Bancshares had a return on equity of 14.24% and a net margin of 28.84%. During the same quarter in the previous year, the company posted $0.71 earnings per share. sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.87 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, September 6th. Commerce Bancshares’s payout ratio is currently 33.94%.

In related news, Vice Chairman Jonathan M. Kemper sold 46,030 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $65.30, for a total value of $3,005,759.00. Following the sale, the insider now directly owns 993,378 shares in the company, valued at $64,867,583.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sara E. Foster sold 2,371 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $69.61, for a total value of $165,045.31. Following the completion of the sale, the insider now owns 43,895 shares in the company, valued at $3,055,530.95. The disclosure for this sale can be found here. In the last three months, insiders sold 69,188 shares of company stock worth $4,586,169. Corporate insiders own 4.00% of the company’s stock.

Several research firms have commented on CBSH. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays lifted their price target on Commerce Bancshares from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Wells Fargo & Co lifted their price target on Commerce Bancshares from $57.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a report on Tuesday, July 17th. Finally, ValuEngine raised Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $64.80.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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