WFG Advisors LP lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,840 shares of the financial services provider’s stock after selling 99 shares during the quarter. WFG Advisors LP’s holdings in Commerce Bancshares were worth $218,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $106,000. Citizens Financial Group Inc RI lifted its holdings in shares of Commerce Bancshares by 25.5% in 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 buying an additional 539 shares during the period. Mosaic Family Wealth LLC lifted its holdings in shares of Commerce Bancshares by 5.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after buying an additional 181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Commerce Bancshares by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Commerce Bancshares by 5.9% in 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 buying an additional 237 shares during the period. 62.20% of the stock is owned by institutional investors and hedge funds.
Commerce Bancshares, Inc. (CBSH) traded down 0.19% during trading on Thursday, reaching $56.94. The company had a trading volume of 18,222 shares. Commerce Bancshares, Inc. has a 1-year low of $48.90 and a 1-year high of $60.61. The firm has a 50-day moving average of $56.20 and a 200-day moving average of $56.00. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.17 and a beta of 0.83.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. Commerce Bancshares’s revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Commerce Bancshares, Inc. will post $2.90 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.58%. Commerce Bancshares’s payout ratio is 31.91%.
CBSH has been the subject of several analyst reports. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Barclays PLC set a $58.00 price objective on Commerce Bancshares and gave the company a “hold” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a report on Friday, September 15th. UBS AG cut Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a report on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $56.63.
In other news, insider Jeffery D. Aberdeen sold 687 shares of Commerce Bancshares stock in a transaction that occurred 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 sale, the insider now directly owns 40,232 shares in the company, valued at approximately $2,377,308.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total transaction of $548,200.00. Following the sale, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,819 shares of company stock valued at $1,174,728. 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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