Oregon Public Employees Retirement Fund raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 31,926 shares of the financial services provider’s stock after buying an additional 1,331 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Commerce Bancshares were worth $1,814,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Citizens Financial Group Inc. RI bought a new position in Commerce Bancshares during the first quarter valued at approximately $119,000. Mosaic Family Wealth LLC raised its stake in shares of Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,273 shares during the last quarter. WFG Advisors LP raised its stake in shares of Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Commerce Bancshares during the first quarter worth about $233,000. Hedge funds and other institutional investors own 61.42% of the company’s stock.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at 56.20 on Thursday. The company has a market cap of $5.71 billion, a PE ratio of 20.36 and a beta of 0.81. Commerce Bancshares, Inc. has a one year low of $45.37 and a one year high of $60.61. The company’s 50-day moving average price is $57.38 and its 200 day moving average price is $56.48.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The company had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. Equities analysts forecast that Commerce Bancshares, Inc. will post $2.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.60%. Commerce Bancshares’s payout ratio is currently 32.64%.
A number of brokerages have recently issued reports on CBSH. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Friday, August 11th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Commerce Bancshares in a report on Thursday, August 10th. UBS AG lowered Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. BidaskClub lowered Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Barclays PLC set a $58.00 target price on Commerce Bancshares and gave the company a “hold” rating in a research note on Sunday, July 16th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $55.00.
In related news, insider Jeffery D. Aberdeen sold 687 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the transaction, the insider now owns 40,232 shares in the company, valued at $2,377,308.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,099 shares of company stock valued at $2,643,431. 4.30% of the stock is owned by company insiders.
About Commerce Bancshares
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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