Financial Counselors Inc. raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 188,647 shares of the financial services provider’s stock after buying an additional 8,320 shares during the period. Financial Counselors Inc. owned about 0.17% of Commerce Bancshares worth $10,634,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CBSH. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 9,851,300 shares of the financial services provider’s stock worth $650,384,000 after purchasing an additional 300,762 shares in the last quarter. Vanguard Group Inc raised its holdings in Commerce Bancshares by 3.1% in the 3rd quarter. Vanguard Group Inc now owns 9,851,300 shares of the financial services provider’s stock worth $650,384,000 after purchasing an additional 300,762 shares in the last quarter. BlackRock Inc. raised its holdings in Commerce Bancshares by 1.8% in the 3rd quarter. BlackRock Inc. now owns 8,645,063 shares of the financial services provider’s stock worth $570,749,000 after purchasing an additional 150,113 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Commerce Bancshares by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,184,830 shares of the financial services provider’s stock worth $78,221,000 after purchasing an additional 11,643 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Commerce Bancshares by 8.6% in the 3rd quarter. Wells Fargo & Company MN now owns 1,080,789 shares of the financial services provider’s stock worth $71,353,000 after purchasing an additional 85,315 shares in the last quarter. 60.08% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on CBSH shares. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, October 17th. BidaskClub upgraded shares of Commerce Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Morgan Stanley decreased their price objective on shares of Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, December 11th. Stephens restated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a report on Wednesday, December 19th. Finally, Barclays restated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a report on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.49.
Shares of Commerce Bancshares stock opened at $60.87 on Wednesday. The stock has a market capitalization of $6.76 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 3.66 and a beta of 0.74. Commerce Bancshares, Inc. has a 1 year low of $53.40 and a 1 year high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.01. The company had revenue of $345.31 million during the quarter, compared to analyst estimates 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 business earned $0.74 EPS. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.81 earnings per share for the current year.
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%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 24.87%.
In other Commerce Bancshares news, insider Daniel D. Callahan sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $65.91, for a total transaction of $98,865.00. Following the completion of the sale, the insider now directly owns 26,036 shares in the company, valued at approximately $1,716,032.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel D. Callahan sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $61.11, for a total transaction of $201,663.00. Following the sale, the insider now owns 24,037 shares of the company’s stock, valued at $1,468,901.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,563 shares of company stock valued at $1,971,880. 4.00% of the stock is owned by company insiders.
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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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