Commerce Bancshares, Inc. (CBSH) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,188 shares of the financial services provider’s stock after purchasing an additional 17,857 shares during the period. Wells Fargo & Company MN owned about 0.95% of Commerce Bancshares worth $56,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Russell Investments Group Ltd. increased its position in Commerce Bancshares by 617.1% during the second quarter. Russell Investments Group Ltd. now owns 237,411 shares of the financial services provider’s stock worth $13,492,000 after buying an additional 204,306 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in Commerce Bancshares by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock worth $712,000 after buying an additional 42 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Commerce Bancshares by 13.7% during the second quarter. Janney Montgomery Scott LLC now owns 5,471 shares of the financial services provider’s stock worth $311,000 after buying an additional 660 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Commerce Bancshares by 0.4% during the second quarter. Great West Life Assurance Co. Can now owns 71,530 shares of the financial services provider’s stock worth $4,060,000 after buying an additional 265 shares in the last quarter. Finally, World Asset Management Inc increased its position in Commerce Bancshares by 2.8% during the second quarter. World Asset Management Inc now owns 5,568 shares of the financial services provider’s stock worth $316,000 after buying an additional 150 shares in the last quarter. 62.11% of the stock is owned by hedge funds and other institutional investors.

In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the transaction, the insider now owns 47,112 shares in the company, valued at $2,751,340.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

CBSH has been the subject of a number of recent analyst reports. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a research report on Friday, October 6th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, August 11th. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.63.

Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $55.69 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $60.61. The firm has a market capitalization of $5,935.46, a price-to-earnings ratio of 20.71, a P/E/G ratio of 3.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share 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 firm had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the previous year, the business posted $0.68 EPS. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that Commerce Bancshares, Inc. will post 2.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is presently 33.51%.

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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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