Pacer Advisors Inc. Purchases 17,874 Shares of Commerce Bancshares, Inc. $CBSH

Pacer Advisors Inc. grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 435.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,983 shares of the financial services provider’s stock after acquiring an additional 17,874 shares during the quarter. Pacer Advisors Inc.’s holdings in Commerce Bancshares were worth $1,314,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CBSH. HB Wealth Management LLC increased its position in shares of Commerce Bancshares by 4.5% during the second quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 174 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Commerce Bancshares by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 190 shares in the last quarter. Nicholson Wealth Management Group LLC increased its holdings in Commerce Bancshares by 1.0% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 20,926 shares of the financial services provider’s stock valued at $1,301,000 after buying an additional 214 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of Commerce Bancshares by 1.3% during the 1st quarter. Modern Wealth Management LLC now owns 17,019 shares of the financial services provider’s stock worth $1,059,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $52.34 on Friday. The stock’s 50 day simple moving average is $51.71 and its 200 day simple moving average is $55.74. Commerce Bancshares, Inc. has a one year low of $48.69 and a one year high of $65.59. The firm has a market cap of $6.93 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 4.57 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data 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). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business had revenue of $448.85 million during the quarter, compared to analyst estimates of $447.04 million. During the same period in the prior year, the firm posted $1.02 EPS. Commerce Bancshares’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

Analyst Ratings Changes

CBSH has been the topic of a number of analyst reports. TD Cowen started coverage on shares of Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods lowered their price objective on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research note on Friday, October 17th. Hovde Group assumed coverage on Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $66.67 target price for the company. Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Cowen reiterated a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average target price of $62.18.

About Commerce Bancshares

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.