New York State Common Retirement Fund lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,279 shares of the financial services provider’s stock after purchasing an additional 12,400 shares during the quarter. New York State Common Retirement Fund owned 0.34% of Commerce Bancshares worth $19,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of CBSH. Captrust Financial Advisors purchased a new position in Commerce Bancshares in the 2nd quarter worth about $106,000. Citizens Financial Group Inc RI raised its position 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 worth $151,000 after buying an additional 539 shares during the last quarter. Mosaic Family Wealth LLC raised its position 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 worth $187,000 after buying an additional 181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 worth $190,000 after buying an additional 264 shares during the last quarter. Finally, SignalPoint Asset Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter worth about $226,000. 59.15% of the stock is owned by hedge funds and other institutional investors.

In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at $55.02 on Thursday. The stock has a market capitalization of $5,870.36, a P/E ratio of 20.48, a P/E/G ratio of 3.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. research analysts predict that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Thursday, November 30th will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.51%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Keefe, Bruyette & Woods restated a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research note on Friday, October 6th. Six analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $56.63.

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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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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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