Schroder Investment Management Group lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 53.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 831,785 shares of the financial services provider’s stock after purchasing an additional 288,009 shares during the period. Schroder Investment Management Group owned about 0.82% of Commerce Bancshares worth $47,686,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Citizens Financial Group Inc. RI bought a new stake in Commerce Bancshares during the 1st quarter worth approximately $119,000. Mosaic Family Wealth LLC grew its holdings in Commerce Bancshares by 5.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after buying an additional 181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares in the last quarter. WFG Advisors LP grew its holdings in Commerce Bancshares by 2.8% during the 1st quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock valued at $221,000 after buying an additional 109 shares in the last quarter. Finally, RFG Advisory Group LLC purchased a new stake in Commerce Bancshares during the 1st quarter valued at approximately $237,000. Hedge funds and other institutional investors own 62.19% of the company’s stock.
Commerce Bancshares, Inc. (CBSH) opened at 53.21 on Friday. Commerce Bancshares, Inc. has a 52 week low of $47.64 and a 52 week high of $60.61. The stock’s 50 day moving average price is $56.01 and its 200 day moving average price is $56.19. The firm has a market capitalization of $5.41 billion, a P/E ratio of 19.28 and a beta of 0.82.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share 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 firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same period in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Commerce Bancshares, Inc. will post $2.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.69%. Commerce Bancshares’s dividend payout ratio (DPR) is 32.64%.
A number of brokerages have issued reports on CBSH. Barclays PLC reaffirmed an “equal weight” rating and set a $54.00 price objective (down from $55.00) on shares of Commerce Bancshares in a report on Wednesday, July 12th. BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 6th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $46.00 price objective on shares of Commerce Bancshares in a research note on Monday, June 12th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.63.
In related news, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the transaction, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,819 shares of company stock valued at $1,174,728. Insiders own 4.30% of the company’s stock.
About Commerce Bancshares
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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