Commerce Bancshares, Inc. (CBSH) Position Increased by Archford Capital Strategies LLC
Archford Capital Strategies LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 25.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,003 shares of the financial services provider’s stock after purchasing an additional 1,011 shares during the period. Archford Capital Strategies LLC’s holdings in Commerce Bancshares were worth $289,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado raised its position in Commerce Bancshares by 0.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 42 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Commerce Bancshares by 13.7% during the second quarter. Janney Montgomery Scott LLC now owns 5,471 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 660 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Commerce Bancshares by 0.4% during the second quarter. Great West Life Assurance Co. Can now owns 71,530 shares of the financial services provider’s stock worth $4,060,000 after acquiring an additional 265 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Commerce Bancshares by 1.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after acquiring an additional 8,179 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Commerce Bancshares by 1.1% during the second quarter. Arizona State Retirement System now owns 36,800 shares of the financial services provider’s stock worth $2,091,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 59.15% of the company’s stock.
Shares of Commerce Bancshares, Inc. (CBSH) opened at $54.34 on Friday. The company has a market cap of $5,907.71, a PE ratio of 20.61, a PEG ratio of 3.23 and a beta of 0.80. Commerce Bancshares, Inc. has a twelve month low of $51.90 and a twelve month high of $60.61. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. research analysts predict that Commerce Bancshares, Inc. will post 2.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.51%.
In related news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
A number of brokerages have issued reports on CBSH. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Piper Jaffray Companies restated a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research report on Friday, September 15th. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Commerce Bancshares currently has an average rating of “Sell” and an average price target of $56.63.
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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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