Campbell & CO Investment Adviser LLC Acquires Shares of 63,445 Commerce Bancshares, Inc. $CBSH

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 63,445 shares of the financial services provider’s stock, valued at approximately $3,944,000.

Other large investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in Commerce Bancshares in the 2nd quarter valued at $506,000. Savant Capital LLC bought a new position in shares of Commerce Bancshares in the second quarter valued at $250,000. Convergence Financial LLC acquired a new position in shares of Commerce Bancshares during the second quarter valued at about $203,000. Speece Thorson Capital Group Inc. increased its position in shares of Commerce Bancshares by 2.1% during the second quarter. Speece Thorson Capital Group Inc. now owns 235,996 shares of the financial services provider’s stock worth $14,672,000 after acquiring an additional 4,764 shares in the last quarter. Finally, IFG Advisory LLC increased its position in shares of Commerce Bancshares by 1.9% during the second quarter. IFG Advisory LLC now owns 105,262 shares of the financial services provider’s stock worth $6,544,000 after acquiring an additional 2,013 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the topic of several recent research reports. Cowen reaffirmed a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday, October 21st. Morgan Stanley increased their price objective on Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Zacks Research lowered Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Hovde Group started coverage on Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.29.

Commerce Bancshares Trading Up 1.0%

CBSH stock opened at $54.15 on Friday. The stock has a market cap of $7.23 billion, a P/E ratio of 12.92, a P/E/G ratio of 4.71 and a beta of 0.62. The stock’s fifty day simple moving average is $57.35 and its two-hundred day simple moving average is $60.77. Commerce Bancshares, Inc. has a 1-year low of $51.64 and a 1-year high of $72.75.

Shares of Commerce Bancshares are scheduled to split on Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, December 1st.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The business had revenue of $440.97 million for the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. As a group, analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be given a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s payout ratio is currently 26.25%.

Commerce Bancshares 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.