Omnia Family Wealth LLC cut its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,181 shares of the financial services provider’s stock after selling 377 shares during the quarter. Omnia Family Wealth LLC’s holdings in Commerce Bancshares were worth $294,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CBSH. Vanguard Group Inc. grew its stake in shares of Commerce Bancshares by 10.4% in the first quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock valued at $469,107,000 after acquiring an additional 785,218 shares in the last quarter. BlackRock Inc. grew its stake in shares of Commerce Bancshares by 5,297.5% in the first quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock valued at $421,752,000 after acquiring an additional 7,370,707 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Commerce Bancshares by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock valued at $72,371,000 after acquiring an additional 61,106 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Commerce Bancshares by 41.1% in the first quarter. AQR Capital Management LLC now owns 1,233,144 shares of the financial services provider’s stock valued at $69,254,000 after acquiring an additional 359,363 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Commerce Bancshares in the first quarter valued at about $64,025,000. 62.19% of the stock is currently owned by institutional investors.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 687 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the transaction, the insider now owns 40,232 shares of the company’s stock, valued at approximately $2,377,308.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now directly owns 12,828 shares of the company’s stock, valued at approximately $703,230.96. The disclosure for this sale can be found here. Insiders have sold a total of 20,819 shares of company stock valued at $1,174,728 in the last ninety days. Insiders own 4.30% of the company’s stock.
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Several equities analysts recently commented on the stock. UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $61.00 price target on shares of Commerce Bancshares in a research note on Friday, August 11th. Raymond James Financial, Inc. restated an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, August 21st. Finally, BidaskClub downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $54.63.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up 1.58% during midday trading on Friday, reaching $53.21. 333,981 shares of the company’s stock were exchanged. The company has a market cap of $5.41 billion, a P/E ratio of 19.28 and a beta of 0.82. The firm has a 50 day moving average price of $56.01 and a 200 day moving average price of $56.19. Commerce Bancshares, Inc. has a 12 month low of $47.64 and a 12 month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The business had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. During the same period in the previous year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, September 7th. Commerce Bancshares’s payout ratio is presently 32.64%.
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, mortgage banking, 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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