9,472 Shares in Commerce Bancshares, Inc. $CBSH Purchased by Cauble & Harre Wealth Management Inc.

Cauble & Harre Wealth Management Inc. acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,472 shares of the financial services provider’s stock, valued at approximately $547,000.

Other hedge funds have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $29,000. Allworth Financial LP bought a new position in Commerce Bancshares in the second quarter worth approximately $1,217,000. Oxford Financial Group LTD. LLC bought a new position in Commerce Bancshares in the second quarter worth approximately $565,000. Advisors Capital Management LLC purchased a new position in Commerce Bancshares during the 2nd quarter worth $464,000. Finally, Vise Technologies Inc. purchased a new position in Commerce Bancshares during the 2nd quarter worth $266,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total value of $62,074.83. Following the completion of the sale, the senior vice president directly owned 13,117 shares in the company, valued at $782,166.71. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares 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 in the company, valued at $7,066,683.80. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,484 shares of company stock valued at $1,936,055 over the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research analyst reports. Wells Fargo & Company set a $63.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Monday, August 10th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.29.

Commerce Bancshares Trading Down 0.7%

CBSH opened at $58.38 on Friday. 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 cap of $8.37 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 2.09 and a beta of 0.59. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The stock has a fifty day moving average price of $58.30 and a 200-day moving average price of $53.84.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same quarter last year, the company earned $1.14 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Commerce Bancshares Company 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.