Envestnet Asset Management Inc. Acquires 364 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Envestnet Asset Management Inc. raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,632 shares of the financial services provider’s stock after acquiring an additional 364 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Commerce Bancshares were worth $1,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Citadel Advisors LLC grew its position in shares of Commerce Bancshares by 21.3% during the 2nd quarter. Citadel Advisors LLC now owns 10,588 shares of the financial services provider’s stock worth $632,000 after buying an additional 1,858 shares in the last quarter. Reilly Financial Advisors LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth $316,000. Arizona State Retirement System grew its position in shares of Commerce Bancshares by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 71,382 shares of the financial services provider’s stock worth $4,259,000 after buying an additional 508 shares in the last quarter. Dearborn Partners LLC grew its position in shares of Commerce Bancshares by 4.1% during the 2nd quarter. Dearborn Partners LLC now owns 387,194 shares of the financial services provider’s stock worth $23,100,000 after buying an additional 15,308 shares in the last quarter. Finally, Stephens Inc. AR grew its position in shares of Commerce Bancshares by 6.2% during the 2nd quarter. Stephens Inc. AR now owns 66,792 shares of the financial services provider’s stock worth $3,985,000 after buying an additional 3,924 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors.

In related news, CEO John W. Kemper sold 2,077 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.45, for a total transaction of $127,631.65. Following the sale, the chief executive officer now owns 152,280 shares of the company’s stock, valued at $9,357,606. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel D. Callahan sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $65.70, for a total value of $262,800.00. Following the sale, the vice president now directly owns 16,997 shares in the company, valued at approximately $1,116,702.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,347 shares of company stock worth $2,712,104. 3.60% of the stock is owned by corporate insiders.

CBSH has been the topic of a number of recent research reports. DA Davidson increased their price target on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Stephens reissued a “hold” rating and set a $59.00 price target on shares of Commerce Bancshares in a research report on Wednesday, October 16th. Finally, Morgan Stanley dropped their price target on Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.57.

Shares of CBSH stock opened at $66.26 on Friday. Commerce Bancshares, Inc. has a 1-year low of $53.40 and a 1-year high of $67.50. The stock’s 50-day moving average is $62.02 and its 200 day moving average is $59.67. The company has a market cap of $7.14 billion, a P/E ratio of 17.53, a PEG ratio of 5.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The company had revenue of $336.30 million for the quarter, compared to the consensus estimate of $337.31 million. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, December 2nd. Commerce Bancshares’s payout ratio is currently 27.51%.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank 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 banking services.

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

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