Brandywine Global Investment Management LLC Sells 1,810 Shares of Commerce Bancshares, Inc. (CBSH)
Brandywine Global Investment Management LLC reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 85,091 shares of the financial services provider’s stock after selling 1,810 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.08% of Commerce Bancshares worth $4,836,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in Commerce Bancshares in the 2nd quarter valued at $106,000. Citizens Financial Group Inc RI increased its stake in Commerce Bancshares by 25.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after buying an additional 539 shares during the period. Mosaic Family Wealth LLC increased its stake in Commerce Bancshares by 5.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after buying an additional 181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Commerce Bancshares by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Commerce Bancshares by 5.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock valued at $240,000 after buying an additional 237 shares during the period. 62.20% of the stock is currently owned by institutional investors.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at 58.29 on Friday. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 21.12 and a beta of 0.83. The firm’s 50 day moving average is $55.47 and its 200 day moving average is $55.87. Commerce Bancshares, Inc. has a 12 month low of $47.64 and a 12 month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results 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. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to analyst estimates of $309.44 million. During the same period last year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 8th were paid a dividend of $0.225 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.54%. Commerce Bancshares’s dividend payout ratio is currently 32.64%.
Several equities analysts have issued reports on CBSH shares. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Piper Jaffray Companies initiated coverage on shares of Commerce Bancshares in a research report on Friday. They set a “hold” rating and a $60.00 target price on the stock. Stephens restated an “equal weight” rating and set a $56.00 target price (up from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. BidaskClub lowered shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Barclays PLC set a $58.00 target price on shares of Commerce Bancshares and gave the stock a “hold” rating in a research report on Sunday, July 16th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $56.25.
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In related news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total transaction of $548,200.00. Following the completion of the transaction, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the transaction, the chairman now directly 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. Insiders have sold 20,819 shares of company stock valued at $1,174,728 in the last ninety days. Company insiders own 4.30% of the company’s stock.
Commerce Bancshares 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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