Speece Thorson Capital Group Inc. Grows Stock Holdings in Commerce Bancshares, Inc. $CBSH

Speece Thorson Capital Group Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 235,996 shares of the financial services provider’s stock after buying an additional 4,764 shares during the period. Commerce Bancshares comprises approximately 3.0% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 14th largest position. Speece Thorson Capital Group Inc. owned 0.18% of Commerce Bancshares worth $14,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CBSH. Smartleaf Asset Management LLC boosted its stake in shares of Commerce Bancshares by 191.0% in the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 296 shares during the period. IMA Advisory Services Inc. bought a new position in Commerce Bancshares in the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% during 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. Allworth Financial LP grew its holdings in Commerce Bancshares by 55.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock valued at $40,000 after buying an additional 231 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in shares of Commerce Bancshares during the second quarter valued at approximately $46,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Trading Up 0.6%

Shares of NASDAQ CBSH opened at $52.63 on Monday. Commerce Bancshares, Inc. has a 12-month low of $51.64 and a 12-month high of $72.75. The firm’s 50-day moving average price is $58.23 and its 200-day moving average price is $61.00. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 4.71 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CBSH shares. Hovde Group began coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $70.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Keefe, Bruyette & Woods cut their price objective on Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Commerce Bancshares in a research report on Wednesday, October 8th. Finally, Cowen reissued a “hold” rating on shares of Commerce Bancshares in a research note on Tuesday, October 21st. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.29.

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.