Dean Investment Associates LLC boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,996 shares of the financial services provider’s stock after buying an additional 153 shares during the period. Dean Investment Associates LLC’s holdings in Commerce Bancshares were worth $591,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in CBSH. BlackRock Fund Advisors raised its stake in shares of Commerce Bancshares by 4.3% in the third quarter. BlackRock Fund Advisors now owns 3,149,247 shares of the financial services provider’s stock worth $155,132,000 after buying an additional 130,170 shares in the last quarter. Bank of New York Mellon Corp raised its position in Commerce Bancshares by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 945,707 shares of the financial services provider’s stock valued at $46,585,000 after buying an additional 7,911 shares during the period. Dimensional Fund Advisors LP raised its position in Commerce Bancshares by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 829,250 shares of the financial services provider’s stock valued at $39,717,000 after buying an additional 23,399 shares during the period. Nuance Investments LLC raised its position in Commerce Bancshares by 56.7% in the third quarter. Nuance Investments LLC now owns 750,241 shares of the financial services provider’s stock valued at $36,957,000 after buying an additional 271,615 shares during the period. Finally, Wells Fargo & Company MN raised its position in Commerce Bancshares by 11.7% in the third quarter. Wells Fargo & Company MN now owns 748,515 shares of the financial services provider’s stock valued at $36,872,000 after buying an additional 78,331 shares during the period. 58.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 1.05% on Wednesday, hitting $55.47. The stock had a trading volume of 268,430 shares. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 21.25 and a beta of 0.74. Commerce Bancshares, Inc. has a 52 week low of $37.33 and a 52 week high of $59.22. The company has a 50-day moving average of $56.93 and a 200 day moving average of $51.09.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $292.70 million for the quarter, compared to analyst estimates of $299.84 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts predict that Commerce Bancshares, Inc. will post $2.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Friday, March 10th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.90 annualized dividend and a yield of 1.62%. Commerce Bancshares’s payout ratio is currently 34.44%.
Several research analysts have weighed in on the company. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, October 13th. Barclays PLC boosted their price target on Commerce Bancshares from $47.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 6th. Finally, Wells Fargo & Company assumed coverage on Commerce Bancshares in a research report on Friday, January 6th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $48.30.
In other Commerce Bancshares news, insider Sara E. Foster sold 4,783 shares of the stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $57.98, for a total value of $277,318.34. Following the transaction, the insider now owns 59,728 shares in the company, valued at $3,463,029.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles G. Kim sold 7,804 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $57.76, for a total value of $450,759.04. Following the completion of the transaction, the insider now owns 111,431 shares in the company, valued at approximately $6,436,254.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,887 shares of company stock worth $2,977,138. Corporate insiders own 4.60% of the company’s stock.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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