Captrust Financial Advisors bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,871 shares of the financial services provider’s stock, valued at approximately $106,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Commerce Bancshares by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock worth $469,107,000 after purchasing an additional 785,218 shares during the last quarter. BlackRock Inc. boosted its stake in Commerce Bancshares by 5,297.5% during the 1st quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock worth $421,752,000 after purchasing an additional 7,370,707 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Commerce Bancshares by 5.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock worth $72,371,000 after purchasing an additional 61,106 shares during the last quarter. AQR Capital Management LLC boosted its stake in Commerce Bancshares by 41.1% during the 1st quarter. AQR Capital Management LLC now owns 1,233,144 shares of the financial services provider’s stock worth $69,254,000 after purchasing an additional 359,363 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Commerce Bancshares during the 1st quarter worth $64,025,000. 62.20% of the stock is currently owned by institutional investors.
Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at 55.17 on Friday. The stock’s 50 day moving average price is $55.53 and its 200 day moving average price is $56.01. Commerce Bancshares, Inc. has a 12-month low of $47.64 and a 12-month high of $60.61. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 19.99 and a beta of 0.82.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $305.89 million for the quarter, compared to analyst estimates of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. Analysts forecast that Commerce Bancshares, Inc. will post $2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, September 7th. Commerce Bancshares’s payout ratio is currently 32.64%.
In related news, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the sale, the chairman now owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Capps sold 10,000 shares of the 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 sale, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,819 shares of company stock worth $1,174,728. Corporate insiders own 4.30% of the company’s stock.
Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research note on Friday. UBS AG lowered Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a report on Friday, August 11th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Commerce Bancshares in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.25.
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Commerce Bancshares 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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