Commerce Bancshares Inc. (NASDAQ:CBSH) released its quarterly earnings data on Friday. The financial services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by $0.02. Commerce Bancshares had a net margin of 23.03% and a return on equity of 11.58%. During the same quarter in the prior year, the business posted $0.63 earnings per share.

Commerce Bancshares (NASDAQ:CBSH) opened at 49.50 on Friday. The stock has a market capitalization of $4.78 billion, a P/E ratio of 18.97 and a beta of 0.74. Commerce Bancshares has a 12-month low of $37.44 and a 12-month high of $51.30. The firm’s 50-day moving average is $49.58 and its 200-day moving average is $47.84.

Earnings History for Commerce Bancshares (NASDAQ:CBSH)

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio is 34.50%.

In related news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $47.22, for a total value of $2,361,000.00. Following the completion of the sale, the insider now owns 1,242,407 shares of the company’s stock, valued at $58,666,458.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles G. Kim sold 5,000 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $48.04, for a total value of $240,200.00. Following the completion of the sale, the insider now directly owns 82,551 shares of the company’s stock, valued at approximately $3,965,750.04. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in shares of Commerce Bancshares by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,019,077 shares of the financial services provider’s stock worth $144,614,000 after buying an additional 96,208 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Commerce Bancshares by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,572,618 shares of the financial services provider’s stock worth $123,228,000 after buying an additional 55,787 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Commerce Bancshares by 76.5% in the second quarter. Martingale Asset Management L P now owns 447,072 shares of the financial services provider’s stock worth $21,416,000 after buying an additional 193,807 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Commerce Bancshares by 14.6% in the second quarter. AQR Capital Management LLC now owns 424,212 shares of the financial services provider’s stock worth $20,320,000 after buying an additional 54,152 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Commerce Bancshares by 6.9% in the second quarter. BlackRock Group LTD now owns 352,641 shares of the financial services provider’s stock worth $16,891,000 after buying an additional 22,630 shares during the last quarter. 60.86% of the stock is owned by institutional investors.

CBSH has been the subject of several research analyst reports. Barclays PLC lifted their price objective on shares of Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Morgan Stanley lowered shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price target for the company. in a research note on Tuesday, September 20th. Jefferies Group restated a “hold” rating on shares of Commerce Bancshares in a research note on Thursday, August 18th. Finally, Piper Jaffray Cos. initiated coverage on shares of Commerce Bancshares in a research note on Monday, July 11th. They set a “neutral” rating and a $43.50 price target for the company. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Commerce Bancshares currently has an average rating of “Hold” and an average price target of $45.75.

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, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

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