Steward Partners Investment Advisory LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,296 shares of the financial services provider’s stock after acquiring an additional 694 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Commerce Bancshares were worth $580,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CBSH. Vanguard Group Inc increased its stake in shares of Commerce Bancshares by 3.1% during the third quarter. Vanguard Group Inc now owns 9,851,300 shares of the financial services provider’s stock valued at $650,384,000 after purchasing an additional 300,762 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Commerce Bancshares by 3.1% during the third quarter. Vanguard Group Inc. now owns 9,851,300 shares of the financial services provider’s stock valued at $650,384,000 after purchasing an additional 300,762 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Commerce Bancshares by 9,859.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 164,234 shares of the financial services provider’s stock valued at $10,843,000 after purchasing an additional 162,585 shares in the last quarter. BlackRock Inc. increased its stake in shares of Commerce Bancshares by 1.8% during the third quarter. BlackRock Inc. now owns 8,645,063 shares of the financial services provider’s stock valued at $570,749,000 after purchasing an additional 150,113 shares in the last quarter. Finally, Walthausen & Co. LLC bought a new position in shares of Commerce Bancshares during the third quarter valued at approximately $7,264,000. 62.08% of the stock is owned by hedge funds and other institutional investors.
In other Commerce Bancshares news, insider Daniel D. Callahan sold 1,500 shares of Commerce Bancshares stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $65.91, for a total value of $98,865.00. Following the completion of the transaction, the insider now directly owns 26,036 shares of the company’s stock, valued at approximately $1,716,032.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel D. Callahan sold 787 shares of Commerce Bancshares stock in a transaction on Monday, January 28th. The stock was sold at an average price of $60.74, for a total transaction of $47,802.38. Following the completion of the transaction, the vice president now directly owns 25,848 shares of the company’s stock, valued at $1,570,007.52. The disclosure for this sale can be found here. Insiders have sold a total of 67,448 shares of company stock worth $4,075,799 over the last 90 days. Insiders own 4.00% of the company’s stock.
A number of equities research analysts have recently commented on CBSH shares. Raymond James upgraded shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price target on the stock in a report on Friday, January 18th. They noted that the move was a valuation call. Morgan Stanley cut their price target on shares of Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, December 11th. BidaskClub upgraded shares of Commerce Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Barclays restated a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Friday, January 11th. Finally, Stephens restated a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $63.49.
CBSH traded up $0.32 during trading on Wednesday, hitting $61.42. The company’s stock had a trading volume of 330,452 shares, compared to its average volume of 470,105. Commerce Bancshares, Inc. has a one year low of $53.40 and a one year high of $72.55. The company has a market capitalization of $6.75 billion, a PE ratio of 16.25, a PEG ratio of 3.65 and a beta of 0.74.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.01. The business had revenue of $345.31 million for the quarter, compared to the consensus estimate of $335.66 million. Commerce Bancshares had a net margin of 31.18% and a return on equity of 16.29%. During the same period last year, the firm earned $0.74 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, March 8th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.69%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 24.87%.
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Commerce Bancshares Company Profile
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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