Wellington Management Group LLP boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,960 shares of the financial services provider’s stock after buying an additional 7,770 shares during the period. Wellington Management Group LLP owned approximately 0.07% of Commerce Bancshares worth $3,986,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its position in shares of Commerce Bancshares by 27.2% in the first quarter. OppenheimerFunds Inc. now owns 5,069 shares of the financial services provider’s stock worth $285,000 after buying an additional 1,083 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Commerce Bancshares by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 15,822 shares of the financial services provider’s stock valued at $889,000 after buying an additional 11,434 shares during the period. AXA boosted its position in shares of Commerce Bancshares by 3.0% in the first quarter. AXA now owns 27,235 shares of the financial services provider’s stock worth $1,530,000 after buying an additional 800 shares during the last quarter. Argent Capital Management LLC boosted its position in shares of Commerce Bancshares by 20.6% in the first quarter. Argent Capital Management LLC now owns 4,390 shares of the financial services provider’s stock worth $247,000 after buying an additional 750 shares during the last quarter. Finally, Barber Financial Group Inc. boosted its position in shares of Commerce Bancshares by 1.4% in the first quarter. Barber Financial Group Inc. now owns 14,025 shares of the financial services provider’s stock worth $788,000 after buying an additional 190 shares during the last quarter. Institutional investors own 62.14% of the company’s stock.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded up 0.50% during trading on Friday, hitting $58.20. 240,115 shares of the stock traded hands. The stock has a 50-day moving average of $57.27 and a 200 day moving average of $56.40. The company has a market cap of $5.91 billion, a P/E ratio of 21.09 and a beta of 0.81. Commerce Bancshares, Inc. has a 1-year low of $45.37 and a 1-year high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The company had revenue of $305.89 million during the quarter, compared to analyst estimates of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. Commerce Bancshares’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. On average, equities research analysts predict that Commerce Bancshares, Inc. will post $2.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 32.64%.
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A number of equities analysts have issued reports on CBSH shares. Stephens reaffirmed a “hold” rating on shares of Commerce Bancshares in a research note on Monday, April 17th. BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Barclays PLC raised their price objective on shares of Commerce Bancshares from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price target on shares of Commerce Bancshares in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.00.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 687 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the transaction, the insider now directly owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the transaction, the insider now directly owns 1,045,605 shares in the company, valued at $56,567,230.50. The disclosure for this sale can be found here. Insiders sold 48,099 shares of company stock worth $2,643,431 over the last ninety days. 4.30% of the stock is currently owned by insiders.
Commerce Bancshares Company 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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