The Manufacturers Life Insurance Company Boosts Position in Commerce Bancshares, Inc. (CBSH)

The Manufacturers Life Insurance Company grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 820,175 shares of the financial services provider’s stock after purchasing an additional 56,525 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.77% of Commerce Bancshares worth $45,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock valued at $203,447,000 after purchasing an additional 369,008 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Commerce Bancshares by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock valued at $62,613,000 after purchasing an additional 35,361 shares during the period. Wells Fargo & Company MN raised its stake in shares of Commerce Bancshares by 5.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,019,212 shares of the financial services provider’s stock valued at $56,913,000 after purchasing an additional 49,024 shares during the period. Nuance Investments LLC raised its stake in shares of Commerce Bancshares by 4.3% during the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock valued at $57,563,000 after purchasing an additional 40,997 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 930,383 shares of the financial services provider’s stock valued at $53,747,000 after purchasing an additional 6,268 shares during the period. Institutional investors own 60.60% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Barclays reiterated a “hold” rating and set a $63.00 price objective on shares of Commerce Bancshares in a research note on Sunday, January 21st. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a research note on Friday, January 19th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.13.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $59.13 on Tuesday. Commerce Bancshares, Inc. has a 1 year low of $51.90 and a 1 year high of $60.61. The firm has a market cap of $6,304.15, a P/E ratio of 21.28, a PEG ratio of 2.22 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping 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 business had revenue of $314.22 million during the quarter, compared to the consensus estimate of $312.98 million. research analysts anticipate that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be given a dividend of $0.235 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is presently 31.05%.

In other Commerce Bancshares news, EVP Sara E. Foster sold 3,361 shares of Commerce Bancshares stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.69, for a total value of $197,257.09. Following the completion of the transaction, the executive vice president now owns 50,898 shares of the company’s stock, valued at $2,987,203.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John W. Kemper sold 78,359 shares of Commerce Bancshares stock in a transaction on Wednesday, February 7th. The stock was 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 approximately $73,767,006.45. The disclosure for this sale can be found here. Insiders have sold 187,452 shares of company stock valued at $10,692,049 in the last three months. Corporate insiders own 4.30% of the company’s stock.

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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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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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