Cambridge Investment Research Advisors Inc. lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,731 shares of the financial services provider’s stock after selling 1,498 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Commerce Bancshares were worth $2,720,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CBSH. Guggenheim Capital LLC increased its position in shares of Commerce Bancshares by 1.9% during the fourth quarter. Guggenheim Capital LLC now owns 9,471 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 174 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Commerce Bancshares by 4.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 4,292 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 175 shares during the last quarter. Eukles Asset Management increased its holdings in Commerce Bancshares by 3.7% during the 1st quarter. Eukles Asset Management now owns 6,088 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 217 shares during the last quarter. Telemus Capital LLC raised its position in shares of Commerce Bancshares by 4.3% in the 2nd quarter. Telemus Capital LLC now owns 5,359 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 222 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Commerce Bancshares by 4.5% during the 1st quarter. LS Investment Advisors LLC now owns 5,404 shares of the financial services provider’s stock valued at $272,000 after buying an additional 234 shares during the last quarter. 67.93% of the stock is owned by institutional investors.
Several analysts recently issued reports on CBSH shares. BidaskClub cut shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Friday, July 10th. Piper Sandler upped their target price on shares of Commerce Bancshares from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price target on Commerce Bancshares from $50.00 to $53.00 and gave the stock an “underweight” rating in a research note on Monday, June 8th. Finally, Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 17th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus target price of $55.20.
In related news, CEO John W. Kemper sold 12,079 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $63.85, for a total transaction of $771,244.15. Following the completion of the transaction, the chief executive officer now owns 143,541 shares in the company, valued at approximately $9,165,092.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.
Commerce Bancshares stock opened at $57.26 on Friday. Commerce Bancshares, Inc. has a 1 year low of $45.51 and a 1 year high of $71.92. The firm’s 50-day moving average is $58.32 and its 200-day moving average is $60.41. The company has a market cap of $6.39 billion, a P/E ratio of 21.66 and a beta of 1.03.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.20). Commerce Bancshares had a return on equity of 10.03% and a net margin of 21.82%. The business had revenue of $320.57 million for the quarter, compared to analyst estimates of $322.49 million. During the same quarter last year, the company earned $0.96 EPS. Commerce Bancshares’s revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 2.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.89%. Commerce Bancshares’s dividend payout ratio (DPR) is 30.17%.
Commerce Bancshares Profile
Commerce Bancshares, Inc operates as the bank 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 banking services.
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