Schroder Investment Management Group raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266,154 shares of the financial services provider’s stock after buying an additional 421,526 shares during the quarter. Schroder Investment Management Group’s holdings in Commerce Bancshares were worth $70,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Commerce Bancshares by 6.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,150,683 shares of the financial services provider’s stock valued at $64,255,000 after buying an additional 66,832 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Commerce Bancshares by 5.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 62,691 shares of the financial services provider’s stock valued at $3,501,000 after buying an additional 3,453 shares in the last quarter. Arizona State Retirement System grew its holdings in Commerce Bancshares by 33.3% during the 4th quarter. Arizona State Retirement System now owns 67,594 shares of the financial services provider’s stock valued at $3,774,000 after buying an additional 16,880 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Commerce Bancshares by 5.4% during the 4th quarter. State of Wisconsin Investment Board now owns 19,336 shares of the financial services provider’s stock valued at $1,080,000 after buying an additional 988 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at approximately $594,000. 60.60% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman David W. Kemper sold 22,988 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.81, for a total value of $1,351,924.28. Following the completion of the transaction, the chairman now directly owns 1,307,009 shares of the company’s stock, valued at $76,865,199.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John W. Kemper sold 78,359 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.45, for a total transaction of $4,501,724.55. Following the completion of the transaction, the insider now directly owns 1,284,021 shares of the company’s stock, valued at $73,767,006.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,452 shares of company stock valued at $10,692,049. 4.30% of the stock is currently owned by insiders.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The firm had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. analysts anticipate that Commerce Bancshares, Inc. will post 3.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be issued a $0.235 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. Commerce Bancshares’s dividend payout ratio (DPR) is 31.05%.
A number of equities research analysts have issued reports on CBSH shares. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, January 8th. Barclays increased their price objective on shares of Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a report on Friday, January 19th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $57.13.
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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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