Everpar Advisors LLC Sells 236 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

VaselineAugust 19, 2024

0 4 minutes read

Everpar Advisors LLC lessened its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,598 shares of the financial services provider’s stock after selling 236 shares during the period. Everpar Advisors LLC’s holdings in Commerce Bancshares were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Outlook Wealth Advisors LLC boosted its stake in shares of Commerce Bancshares by 18.7% during the second quarter. Outlook Wealth Advisors LLC now owns 6,086 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 959 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Commerce Bancshares during the 2nd quarter valued at about $436,000. SG Americas Securities LLC bought a new stake in Commerce Bancshares during the 2nd quarter valued at about $1,226,000. Fulton Bank NA boosted its position in Commerce Bancshares by 21.7% in the 2nd quarter. Fulton Bank NA now owns 6,175 shares of the financial services provider’s stock valued at $344,000 after buying an additional 1,101 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Commerce Bancshares in the 2nd quarter worth about $970,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBSH. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley raised their price objective on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Finally, Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.00.

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Commerce Bancshares Stock Up 1.4 %

Commerce Bancshares stock opened at $61.96 on Monday. The firm has a market cap of $8.03 billion, a P/E ratio of 17.26, a P/E/G ratio of 9.96 and a beta of 0.76. The business has a fifty day moving average of $58.43 and a two-hundred day moving average of $55.13. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $65.86.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. During the same period in the previous year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

Insider Activity

In related news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $3,256,471.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the completion of the sale, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.75, for a total value of $245,726.25. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $3,256,471.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,281 shares of company stock worth $2,975,232. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Profile

(Free Report)

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.