Everpar Advisors LLC Acquires New Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Everpar Advisors LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,693 shares of the financial services provider’s stock, valued at approximately $357,000.

Several other hedge funds have also recently added to or reduced their stakes in CBSH. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Commerce Bancshares by 19.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the financial services provider’s stock worth $1,138,000 after purchasing an additional 3,937 shares during the last quarter. FORVIS Wealth Advisors LLC raised its holdings in Commerce Bancshares by 5.5% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 12,416 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 650 shares during the last quarter. Advisor Partners II LLC bought a new position in Commerce Bancshares during the 3rd quarter worth approximately $201,000. TIAA Trust National Association bought a new position in Commerce Bancshares during the 3rd quarter worth approximately $230,000. Finally, Financial Advocates Investment Management bought a new position in Commerce Bancshares during the 3rd quarter worth approximately $364,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH traded up $0.39 during midday trading on Wednesday, reaching $56.41. 337,426 shares of the company were exchanged, compared to its average volume of 480,725. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 15.62 and a beta of 0.76. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $57.00. The company’s fifty day moving average price is $53.03 and its 200 day moving average price is $51.70.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. Commerce Bancshares’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.48 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.91%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Analyst Ratings Changes

CBSH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. Morgan Stanley raised their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Wednesday, April 17th. Bank of America initiated coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.00.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Commerce Bancshares Company Profile

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.