Suntrust Banks Inc. Has $442,000 Holdings in Commerce Bancshares, Inc. (CBSH)

Suntrust Banks Inc. raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 35.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,793 shares of the financial services provider’s stock after purchasing an additional 2,035 shares during the period. Suntrust Banks Inc.’s holdings in Commerce Bancshares were worth $442,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in Commerce Bancshares during the 2nd quarter valued at about $106,000. Citizens Financial Group Inc RI boosted its stake in Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 539 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in Commerce Bancshares by 5.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 264 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Commerce Bancshares by 5.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.

In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value 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 this hyperlink. Also, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of 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 worth $1,174,728 over the last quarter. Insiders own 4.30% of the company’s stock.

A number of research firms have issued reports on CBSH. Barclays PLC reiterated an “equal weight” rating and set a $54.00 price target (down previously from $55.00) on shares of Commerce Bancshares in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Monday, July 17th. Stephens restated an “equal weight” rating and issued a $56.00 target price (up previously from $52.00) on shares of Commerce Bancshares in a research note on Monday, July 17th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 target price on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.63.

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Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at 58.09 on Thursday. The company has a 50 day moving average of $55.92 and a 200-day moving average of $55.96. The company has a market cap of $5.90 billion, a PE ratio of 21.05 and a beta of 0.83. Commerce Bancshares, Inc. has a 12-month low of $45.37 and a 12-month high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Commerce Bancshares, Inc. will post $2.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 25th. Shareholders 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 1.55%. Commerce Bancshares’s payout ratio is presently 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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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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