Reilly Financial Advisors LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,466 shares of the financial services provider’s stock after purchasing an additional 260 shares during the quarter. Reilly Financial Advisors LLC’s holdings in Commerce Bancshares were worth $371,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of CBSH. Schroder Investment Management Group increased its holdings in shares of Commerce Bancshares by 1.6% during the second quarter. Schroder Investment Management Group now owns 1,056,911 shares of the financial services provider’s stock valued at $63,055,000 after purchasing an additional 16,296 shares during the period. LPL Financial LLC increased its holdings in shares of Commerce Bancshares by 1.7% during the second quarter. LPL Financial LLC now owns 13,265 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 219 shares during the period. Northern Trust Corp boosted its stake in Commerce Bancshares by 2.5% during the second quarter. Northern Trust Corp now owns 867,288 shares of the financial services provider’s stock valued at $51,741,000 after buying an additional 21,009 shares in the last quarter. Captrust Financial Advisors bought a new position in Commerce Bancshares during the second quarter valued at about $50,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in Commerce Bancshares during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 65.80% of the company’s stock.
Shares of CBSH stock opened at $67.43 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. Commerce Bancshares, Inc. has a fifty-two week low of $54.65 and a fifty-two week high of $68.65. The stock has a market capitalization of $7.60 billion, a P/E ratio of 18.73, a P/E/G ratio of 6.61 and a beta of 0.78. The stock has a 50-day simple moving average of $66.90 and a 200 day simple moving average of $62.18.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $336.30 million during the quarter, compared to analyst estimates of $337.31 million. During the same quarter last year, the company posted $1.03 EPS. Commerce Bancshares’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a $0.26 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.54%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.89%.
In related news, VP Daniel D. Callahan sold 1,200 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $64.13, for a total value of $76,956.00. Also, Director David W. Kemper sold 13,431 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $64.25, for a total value of $862,941.75. Following the completion of the transaction, the director now owns 1,178,656 shares of the company’s stock, valued at approximately $75,728,648. The disclosure for this sale can be found here. Insiders sold a total of 45,385 shares of company stock valued at $2,944,406 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.
Several brokerages recently weighed in on CBSH. Wells Fargo & Co cut Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $55.00 target price for the company. in a research note on Monday, January 6th. They noted that the move was a valuation call. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday. DA Davidson raised their target price on Commerce Bancshares to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, December 24th. Morgan Stanley raised their target price on Commerce Bancshares from $52.38 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, December 4th. Finally, Stephens reaffirmed a “hold” rating and set a $59.00 target price on shares of Commerce Bancshares in a research note on Wednesday, October 16th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Commerce Bancshares currently has an average rating of “Sell” and a consensus price target of $57.91.
About Commerce Bancshares
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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