Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Raised by Creative Planning
Creative Planning boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,691 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Creative Planning owned 0.10% of Commerce Bancshares worth $5,949,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Commerce Bancshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 912,854 shares of the financial services provider’s stock worth $52,772,000 after buying an additional 24,554 shares during the period. Envestnet Asset Management Inc. increased its position in 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 Commerce Bancshares during the fourth quarter worth about $206,000. Guggenheim Capital LLC increased its position in Commerce Bancshares by 53.7% in the fourth quarter. Guggenheim Capital LLC now owns 91,180 shares of the financial services provider’s stock worth $5,271,000 after buying an additional 31,873 shares during the period. Finally, Barings LLC increased its position in Commerce Bancshares by 5.0% in the fourth quarter. Barings LLC now owns 4,316 shares of the financial services provider’s stock worth $250,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 62.14% of the company’s stock.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 58.20 on Monday. Commerce Bancshares, Inc. has a 12-month low of $45.37 and a 12-month high of $60.61. The firm’s 50-day moving average price is $57.27 and its 200-day moving average price is $56.40. The company 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 released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, analysts expect that Commerce Bancshares, Inc. will post $2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors 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 currently 32.64%.
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A number of equities analysts have recently issued reports on CBSH shares. Barclays PLC dropped their price target on Commerce Bancshares from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 11th. Stephens restated a “hold” rating on shares of Commerce Bancshares in a research note on Monday, April 17th. Piper Jaffray Companies lowered their target price on Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Morgan Stanley lifted their target price on Commerce Bancshares from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Sunday, June 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.00.
In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the sale, the insider now owns 1,045,605 shares of the company’s stock, valued at $56,567,230.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffery D. Aberdeen sold 687 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the sale, the insider now directly owns 40,232 shares in the company, valued at approximately $2,377,308.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,099 shares of company stock worth $2,643,431. 4.30% of the stock is owned by insiders.
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, 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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