Epoch Investment Partners Inc. bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 82,996 shares of the financial services provider’s stock, valued at approximately $4,678,000. Epoch Investment Partners Inc. owned about 0.07% of Commerce Bancshares at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Pearl River Capital LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Commerce Bancshares by 5,818.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,190,482 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,153,473 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $48,000. Toronto Dominion Bank acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $72,000. Finally, Enlightenment Research LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.
Shares of Commerce Bancshares stock opened at $60.88 on Friday. Commerce Bancshares, Inc. has a twelve month low of $53.40 and a twelve month high of $72.55. The stock has a market capitalization of $6.71 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 3.65 and a beta of 0.75.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.24. Commerce Bancshares’s payout ratio is currently 27.51%.
In related news, insider Daniel D. Callahan sold 3,300 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $61.11, for a total value of $201,663.00. Following the completion of the transaction, the insider now owns 24,037 shares in the company, valued at approximately $1,468,901.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Daniel D. Callahan sold 787 shares of Commerce Bancshares stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $60.74, for a total value of $47,802.38. Following the completion of the transaction, the vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,570,007.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,242 shares of company stock valued at $5,683,836. 4.00% of the stock is owned by company insiders.
Several brokerages have recently issued reports on CBSH. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. Raymond James raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective for the company in a report on Friday, January 18th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, December 11th. Finally, Barclays reissued a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a report on Friday, January 11th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Commerce Bancshares currently has an average rating of “Hold” and an average price target of $63.93.
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About Commerce Bancshares
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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