UBS Group AG raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 24.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,186 shares of the financial services provider’s stock after purchasing an additional 50,264 shares during the period. UBS Group AG owned 0.24% of Commerce Bancshares worth $15,108,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CBSH. Tower Research Capital LLC TRC grew its holdings in Commerce Bancshares by 189.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,448 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in Commerce Bancshares during the first quarter valued at approximately $201,000. Cigna Investments Inc. New acquired a new position in Commerce Bancshares during the first quarter valued at approximately $204,000. Change Path LLC acquired a new position in Commerce Bancshares during the first quarter valued at approximately $305,000. Finally, Matarin Capital Management LLC acquired a new position in Commerce Bancshares during the first quarter valued at approximately $331,000. Institutional investors own 64.79% of the company’s stock.
In other Commerce Bancshares news, EVP Sara E. Foster sold 1,472 shares of Commerce Bancshares stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $63.29, for a total transaction of $93,162.88. Following the sale, the executive vice president now owns 45,299 shares in the company, valued at $2,866,973.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel D. Callahan sold 1,057 shares of Commerce Bancshares stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $62.96, for a total transaction of $66,548.72. Following the sale, the vice president now owns 31,275 shares in the company, valued at approximately $1,969,074. The disclosure for this sale can be found here. Insiders have sold 61,566 shares of company stock worth $3,986,391 in the last quarter. Corporate insiders own 4.00% of the company’s stock.
Shares of Commerce Bancshares opened at $66.09 on Friday, MarketBeat reports. The firm has a market capitalization of $7.08 billion, a PE ratio of 21.78, a P/E/G ratio of 2.00 and a beta of 0.67. Commerce Bancshares, Inc. has a 1 year low of $51.90 and a 1 year high of $67.42.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, April 12th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.12. The business had revenue of $312.58 million for the quarter, compared to the consensus estimate of $310.64 million. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. During the same quarter last year, the company posted $0.68 earnings per share. research analysts expect that Commerce Bancshares, Inc. will post 3.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 8th will be paid a dividend of $0.235 per share. The ex-dividend date is Thursday, June 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.42%. Commerce Bancshares’s dividend payout ratio is currently 33.94%.
Several brokerages have commented on CBSH. ValuEngine upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, April 12th. Raymond James upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating in a report on Tuesday, April 10th. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. UBS Group upgraded shares of Commerce Bancshares to a “market perform” rating in a research note on Tuesday, April 10th. Finally, Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Monday, April 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $60.70.
Commerce Bancshares Profile
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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