Robeco Institutional Asset Management B.V. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9,859.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,234 shares of the financial services provider’s stock after acquiring an additional 162,585 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Commerce Bancshares were worth $10,843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning lifted its holdings in shares of Commerce Bancshares by 0.9% in the 3rd quarter. Creative Planning now owns 115,235 shares of the financial services provider’s stock worth $7,608,000 after purchasing an additional 1,010 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Commerce Bancshares by 2.1% in the 3rd quarter. Confluence Investment Management LLC now owns 314,952 shares of the financial services provider’s stock worth $20,793,000 after purchasing an additional 6,418 shares during the last quarter. Dearborn Partners LLC lifted its holdings in shares of Commerce Bancshares by 1.1% in the 3rd quarter. Dearborn Partners LLC now owns 346,674 shares of the financial services provider’s stock worth $22,887,000 after purchasing an additional 3,843 shares during the last quarter. Calamos Advisors LLC bought a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $430,000. Finally, UMB Bank N A MO lifted its holdings in shares of Commerce Bancshares by 3.7% in the 3rd quarter. UMB Bank N A MO now owns 197,458 shares of the financial services provider’s stock worth $13,036,000 after purchasing an additional 7,100 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Commerce Bancshares stock opened at $64.29 on Friday. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. Commerce Bancshares, Inc. has a 1-year low of $54.24 and a 1-year high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 11th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.07. The firm had revenue of $331.47 million for the quarter, compared to the consensus estimate of $330.91 million. Commerce Bancshares had a return on equity of 15.56% and a net margin of 30.97%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, November 29th. Commerce Bancshares’s payout ratio is currently 33.94%.
Several analysts recently issued reports on the company. BidaskClub raised Commerce Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. Barclays raised their price target on Commerce Bancshares from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a report on Tuesday, July 17th. Morgan Stanley raised their price target on Commerce Bancshares from $60.00 to $63.00 and gave the stock an “underweight” rating in a report on Tuesday, July 17th. Finally, Bank of America set a $68.00 price target on Commerce Bancshares and gave the stock a “sell” rating in a report on Friday, July 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Commerce Bancshares has an average rating of “Hold” and a consensus price target of $64.33.
In other Commerce Bancshares news, Director Jonathan M. Kemper sold 45,000 shares of Commerce Bancshares stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $71.35, for a total transaction of $3,210,750.00. Following the sale, the director now owns 902,348 shares of the company’s stock, valued at approximately $64,382,529.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sara E. Foster sold 2,371 shares of Commerce Bancshares stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $69.61, for a total value of $165,045.31. Following the sale, the insider now directly owns 43,895 shares in the company, valued at approximately $3,055,530.95. The disclosure for this sale can be found here. Insiders have sold a total of 49,466 shares of company stock worth $3,525,961 in the last ninety days. 4.00% of the stock is owned by company insiders.
Commerce Bancshares Company 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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