SignalPoint Asset Management LLC Acquires Shares of 3,917 Commerce Bancshares, Inc. (CBSH)

SignalPoint Asset Management LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,917 shares of the financial services provider’s stock, valued at approximately $226,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its holdings in Commerce Bancshares by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after purchasing an additional 8,179 shares in the last quarter. WBI Investments Inc. bought a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $2,496,000. Legal & General Group Plc grew its holdings in shares of Commerce Bancshares by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 404,973 shares of the financial services provider’s stock valued at $23,016,000 after acquiring an additional 6,542 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Commerce Bancshares by 54.6% in the 2nd quarter. Financial Counselors Inc. now owns 211,361 shares of the financial services provider’s stock valued at $12,012,000 after acquiring an additional 74,613 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Commerce Bancshares by 2.1% in the 2nd quarter. ProShare Advisors LLC now owns 187,669 shares of the financial services provider’s stock valued at $10,665,000 after acquiring an additional 3,813 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Shares of Commerce Bancshares, Inc. (CBSH) traded up $0.07 during trading hours on Friday, reaching $57.85. 344,775 shares of the company traded hands, compared to its average volume of 373,010. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 3.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the business posted $0.68 EPS. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. research analysts expect that Commerce Bancshares, Inc. will post 2.91 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Thursday, November 30th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.56%. Commerce Bancshares’s dividend payout ratio is currently 31.91%.

In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now owns 12,828 shares in the company, valued at approximately $703,230.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares in the company, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

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Several equities analysts have recently weighed in on the company. Barclays PLC restated an “equal weight” rating and issued a $54.00 price objective (down previously from $55.00) on shares of Commerce Bancshares in a report on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a report on Friday, August 11th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Monday, July 17th. Stephens restated an “equal weight” rating and issued a $56.00 price objective (up previously from $52.00) on shares of Commerce Bancshares in a report on Monday, July 17th. Finally, BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $56.63.

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.

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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