Louisiana State Employees Retirement System Has $1.86 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Louisiana State Employees Retirement System trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,300 shares of the financial services provider’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Commerce Bancshares were worth $1,857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clarity Asset Management Inc. bought a new position in Commerce Bancshares during the fourth quarter worth about $43,000. Bessemer Group Inc. boosted its stake in Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares in the last quarter. GAMMA Investing LLC grew its position in Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares during the period. LRI Investments LLC acquired a new position in Commerce Bancshares during the first quarter worth $90,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Commerce Bancshares by 93.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 805 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $63.48 on Friday. The stock’s 50-day moving average is $59.12 and its 200-day moving average is $55.37. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86. The firm has a market cap of $8.18 billion, a P/E ratio of 17.70, a P/E/G ratio of 10.34 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.12%.

Wall Street Analyst Weigh In

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

Insider Transactions at Commerce Bancshares

In related news, Director Jonathan M. Kemper sold 19,626 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $63.66, for a total value of $1,249,391.16. Following the completion of the transaction, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the transaction, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David L. Roller sold 861 shares of Commerce Bancshares stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The disclosure for this sale can be found here. Insiders sold 46,281 shares of company stock valued at $2,975,232 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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