6,680 Shares in Commerce Bancshares, Inc. (CBSH) Purchased by Nomura Holdings Inc.
Nomura Holdings Inc. purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, HoldingsChannel reports. The institutional investor purchased 6,680 shares of the financial services provider’s stock, valued at approximately $432,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in Commerce Bancshares by 303.5% during the 2nd quarter. SG Americas Securities LLC now owns 44,504 shares of the financial services provider’s stock worth $2,880,000 after acquiring an additional 33,474 shares during the last quarter. Citadel Advisors LLC grew its position in Commerce Bancshares by 3,463.9% during the 2nd quarter. Citadel Advisors LLC now owns 996,514 shares of the financial services provider’s stock worth $64,484,000 after acquiring an additional 968,553 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Commerce Bancshares during the 2nd quarter worth approximately $206,000. Northwestern Mutual Wealth Management Co. grew its position in Commerce Bancshares by 74.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,482 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 3,189 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Commerce Bancshares by 210.3% during the 1st quarter. Hsbc Holdings PLC now owns 37,197 shares of the financial services provider’s stock worth $2,228,000 after acquiring an additional 25,209 shares during the last quarter. Institutional investors and hedge funds own 64.76% of the company’s stock.
Shares of CBSH opened at $66.71 on Thursday. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.02 and a beta of 0.65. Commerce Bancshares, Inc. has a 52 week low of $54.24 and a 52 week high of $72.55.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Friday, September 7th were given a $0.235 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.41%. Commerce Bancshares’s payout ratio is 33.94%.
CBSH has been the topic of a number of research analyst reports. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. ValuEngine upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Barclays increased their price objective on Commerce Bancshares from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Stephens reiterated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research report on Thursday, July 12th. Finally, Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Four equities research 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.22.
In other Commerce Bancshares news, CEO David W. Kemper sold 9,465 shares of the stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $68.60, for a total value of $649,299.00. Following the transaction, the chief executive officer now directly owns 1,291,012 shares in the company, valued at approximately $88,563,423.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paula S. Petersen sold 838 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $71.72, for a total value of $60,101.36. Following the completion of the transaction, the insider now owns 17,698 shares in the company, valued at $1,269,300.56. The disclosure for this sale can be found here. Insiders sold a total of 69,931 shares of company stock worth $4,920,470 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
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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