Commerce Bancshares, Inc. (CBSH) Position Maintained by Argent Capital Management LLC
Argent Capital Management LLC held its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,390 shares of the financial services provider’s stock at the close of the 2nd quarter. Argent Capital Management LLC’s holdings in Commerce Bancshares were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also added to or reduced their stakes in CBSH. UBS Asset Management Americas Inc. grew its position in shares of Commerce Bancshares by 9.4% during the first quarter. UBS Asset Management Americas Inc. now owns 68,404 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 5,898 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Commerce Bancshares by 239.9% during the first quarter. Envestnet Asset Management Inc. now owns 10,785 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 7,612 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Commerce Bancshares by 3.5% during the first quarter. Prudential Financial Inc. now owns 65,062 shares of the financial services provider’s stock worth $3,654,000 after purchasing an additional 2,200 shares in the last quarter. Stifel Financial Corp grew its holdings in Commerce Bancshares by 21.8% during the 1st quarter. Stifel Financial Corp now owns 26,298 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 4,698 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Commerce Bancshares by 14.9% during the 1st quarter. Victory Capital Management Inc. now owns 24,648 shares of the financial services provider’s stock valued at $1,384,000 after buying an additional 3,190 shares in the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
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In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total transaction of $548,200.00. Following the transaction, the director now directly owns 12,828 shares in the company, valued at $703,230.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Insiders sold 20,819 shares of company stock valued at $1,174,728 over the last quarter. 4.30% of the stock is currently owned by company insiders.
CBSH has been the subject of several research analyst reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, July 17th. Stephens restated an “equal weight” rating and set a $56.00 price target (up previously from $52.00) on shares of Commerce Bancshares in a report on Monday, July 17th. Barclays PLC restated an “equal weight” rating and set a $54.00 price target (down previously from $55.00) on shares of Commerce Bancshares in a report on Wednesday, July 12th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target on shares of Commerce Bancshares in a report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.63.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 0.84% during trading on Wednesday, hitting $57.94. The stock had a trading volume of 14,639 shares. Commerce Bancshares, Inc. has a 52-week low of $45.37 and a 52-week high of $60.61. The firm’s 50-day moving average is $55.81 and its 200 day moving average is $55.94. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 20.99 and a beta of 0.83.
Commerce Bancshares (NASDAQ:CBSH) last issued 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. The company had revenue of $305.89 million during the quarter, compared to analyst estimates of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, analysts expect that Commerce Bancshares, Inc. will post $2.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 8th were given a $0.225 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.54%. Commerce Bancshares’s payout ratio is 32.64%.
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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