Nuance Investments LLC grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 996,414 shares of the financial services provider’s stock after buying an additional 40,997 shares during the period. Commerce Bancshares accounts for 4.0% of Nuance Investments LLC’s investment portfolio, making the stock its 7th largest holding. Nuance Investments LLC owned about 0.98% of Commerce Bancshares worth $57,563,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors acquired a new stake in Commerce Bancshares during the 2nd quarter worth $106,000. Citizens Financial Group Inc RI boosted its stake in Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 539 shares during the period. Mosaic Family Wealth LLC boosted its stake 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 worth $187,000 after purchasing an additional 181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $190,000 after purchasing an additional 264 shares during the period. Finally, SignalPoint Asset Management LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth $226,000. Institutional investors and hedge funds own 68.54% of the company’s stock.
Shares of Commerce Bancshares, Inc. (CBSH) opened at $56.66 on Monday. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61. The company has a market cap of $5,758.53, a price-to-earnings ratio of 20.09, a PEG ratio of 3.14 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The firm had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. equities research analysts expect that Commerce Bancshares, Inc. will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Thursday, November 30th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 31.91%.
CBSH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Monday, August 21st. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Commerce Bancshares has an average rating of “Hold” and an average price target of $56.63.
In other news, Director John R. Capps sold 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $703,230.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares of the company’s stock, 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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Commerce Bancshares Company 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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