US Bancorp DE boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,999 shares of the financial services provider’s stock after purchasing an additional 8,088 shares during the quarter. US Bancorp DE owned about 0.16% of Commerce Bancshares worth $9,437,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CBSH. Janus Henderson Group PLC purchased a new stake in shares of Commerce Bancshares in the second quarter valued at $8,022,000. Vicus Capital purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $6,825,000. State of Tennessee Treasury Department raised its stake in shares of Commerce Bancshares by 366.7% in the third quarter. State of Tennessee Treasury Department now owns 140,000 shares of the financial services provider’s stock valued at $8,088,000 after acquiring an additional 110,000 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Commerce Bancshares by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 755,584 shares of the financial services provider’s stock valued at $42,940,000 after acquiring an additional 70,376 shares during the period. Finally, McCollum Christoferson Group LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $3,623,000. 59.77% of the stock is currently owned by institutional investors.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Daniel D. Callahan sold 2,972 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $58.56, for a total transaction of $174,040.32. Following the transaction, the vice president now owns 36,266 shares in the company, valued at $2,123,736.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,452 shares of company stock worth $10,692,049. 4.30% of the stock is owned by company insiders.
Several brokerages have recently weighed in on CBSH. Zacks Investment Research downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Barclays reissued a “hold” rating and issued a $55.00 target price on shares of Commerce Bancshares in a research note on Sunday, December 24th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a research note on Friday, January 19th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Commerce Bancshares has an average rating of “Hold” and a consensus target price of $57.13.
Commerce Bancshares, Inc. (CBSH) traded up $1.37 during mid-day trading on Thursday, reaching $58.89. 503,600 shares of the company traded hands, compared to its average volume of 472,085. The stock has a market cap of $6,132.50, a P/E ratio of 20.32, a PEG ratio of 2.16 and a beta of 0.77. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The company had revenue of $314.22 million for the quarter, compared to the consensus estimate of $312.98 million. analysts expect that Commerce Bancshares, Inc. will post 3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.60%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, March 8th. Commerce Bancshares’s dividend payout ratio is presently 31.05%.
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Commerce Bancshares 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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