Thrivent Financial For Lutherans Boosts Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)
Thrivent Financial For Lutherans raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,471 shares of the financial services provider’s stock after buying an additional 1,470 shares during the period. Thrivent Financial For Lutherans’ holdings in Commerce Bancshares were worth $925,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new position in shares of Commerce Bancshares during the first quarter worth approximately $119,000. Mosaic Family Wealth LLC boosted its position in shares of Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,273 shares during the period. Tudor Investment Corp Et Al purchased a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $206,000. Finally, WFG Advisors LP boosted its position in shares of Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 62.14% of the company’s stock.
Commerce Bancshares, Inc. (NASDAQ CBSH) traded up 0.50% on Friday, reaching $58.20. The company had a trading volume of 240,115 shares. The stock has a 50 day moving average of $57.27 and a 200 day moving average of $56.40. Commerce Bancshares, Inc. has a 12 month low of $44.41 and a 12 month high of $60.61. The firm has a market capitalization of $5.91 billion, a PE ratio of 21.09 and a beta of 0.81.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter in the previous year, the company posted $0.70 EPS. Commerce Bancshares’s revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Commerce Bancshares, Inc. will post $2.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is presently 32.64%.
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A number of equities research analysts have issued reports on CBSH shares. Barclays PLC increased their price target on Commerce Bancshares from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price target on shares of Commerce Bancshares in a research report on Friday, July 14th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price target (up previously from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. Finally, BidaskClub lowered Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.00.
In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of Commerce Bancshares stock in a transaction on Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the sale, the chairman now owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery D. Aberdeen sold 687 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the transaction, the insider now directly owns 40,232 shares of the company’s stock, valued at approximately $2,377,308.88. The disclosure for this sale can be found here. Insiders have sold a total of 48,099 shares of company stock valued at $2,643,431 in the last ninety days. Company insiders own 4.30% of the company’s stock.
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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