Barber Financial Group Inc. boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,777 shares of the financial services provider’s stock after buying an additional 1,202 shares during the quarter. Barber Financial Group Inc.’s holdings in Commerce Bancshares were worth $1,083,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CBSH. Oregon Public Employees Retirement Fund increased its position in Commerce Bancshares by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,423 shares of the financial services provider’s stock worth $2,352,000 after buying an additional 564 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its position in Commerce Bancshares by 9.8% during the second quarter. Wealth Alliance Advisory Group LLC now owns 5,459 shares of the financial services provider’s stock worth $318,000 after buying an additional 487 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in Commerce Bancshares during the second quarter worth approximately $307,000. Mountain Pacific Investment Advisers Inc. ID increased its position in Commerce Bancshares by 7.1% during the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 340,537 shares of the financial services provider’s stock worth $20,316,000 after buying an additional 22,654 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in Commerce Bancshares by 3.1% during the second quarter. Confluence Investment Management LLC now owns 360,906 shares of the financial services provider’s stock worth $21,532,000 after buying an additional 10,848 shares during the last quarter. 65.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.45, for a total value of $127,631.65. Following the transaction, the chief executive officer now owns 152,280 shares of the company’s stock, valued at $9,357,606. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel D. Callahan sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $65.70, for a total value of $262,800.00. Following the completion of the transaction, the vice president now directly owns 16,997 shares in the company, valued at approximately $1,116,702.90. The disclosure for this sale can be found here. Insiders sold 42,347 shares of company stock worth $2,712,104 in the last ninety days. 3.60% of the stock is owned by company insiders.
Commerce Bancshares stock opened at $66.26 on Friday. Commerce Bancshares, Inc. has a 12 month low of $53.40 and a 12 month high of $67.50. The stock’s 50 day moving average is $62.02 and its 200-day moving average is $59.67. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 5.99 and a beta of 0.76.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The company had revenue of $336.30 million for the quarter, compared to the consensus estimate of $337.31 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, December 2nd. Commerce Bancshares’s payout ratio is 27.51%.
A number of brokerages have weighed in on CBSH. Morgan Stanley lowered their price target on Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. Stephens reissued a “hold” rating and set a $59.00 price target on shares of Commerce Bancshares in a research report on Wednesday, October 16th. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, DA Davidson boosted their price target on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $58.57.
Commerce Bancshares Profile
Commerce Bancshares, Inc operates as the bank 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 banking services.
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