First Trust Advisors LP Trims Stake in Commerce Bancshares, Inc. (CBSH)
First Trust Advisors LP decreased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 186,427 shares of the financial services provider’s stock after selling 62,091 shares during the period. First Trust Advisors LP owned approximately 0.18% of Commerce Bancshares worth $10,770,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in shares of Commerce Bancshares in the third quarter worth about $612,000. Mountain Pacific Investment Advisers Inc. ID boosted its holdings in shares of Commerce Bancshares by 4.8% in the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 288,278 shares of the financial services provider’s stock worth $16,654,000 after buying an additional 13,155 shares during the period. Intl Fcstone Inc. boosted its holdings in shares of Commerce Bancshares by 120.6% in the second quarter. Intl Fcstone Inc. now owns 24,892 shares of the financial services provider’s stock worth $1,415,000 after buying an additional 13,606 shares during the period. Cetera Investment Advisers acquired a new position in shares of Commerce Bancshares in the second quarter worth about $272,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Commerce Bancshares by 3.6% in the second quarter. Ameritas Investment Partners Inc. now owns 34,152 shares of the financial services provider’s stock worth $1,940,000 after buying an additional 1,191 shares during the period. Institutional investors own 62.07% of the company’s stock.
CBSH has been the subject of several recent analyst reports. Wells Fargo & Company reiterated a “market perform” rating and issued a $53.00 target price (up from $51.00) on shares of Commerce Bancshares in a report on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 target price on shares of Commerce Bancshares in a report on Friday, July 14th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target on shares of Commerce Bancshares in a report on Friday, July 14th. Stephens restated an “equal weight” rating and set a $56.00 price target (up from $52.00) on shares of Commerce Bancshares in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, July 17th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $56.63.
Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $55.03 on Friday. The firm has a market cap of $5,636.55, a P/E ratio of 19.67, a P/E/G ratio of 3.08 and a beta of 0.80. 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, Inc. has a 52-week low of $51.90 and a 52-week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same period in the previous year, the business posted $0.68 EPS. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. equities analysts expect that Commerce Bancshares, Inc. will post 2.91 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 given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is 31.91%.
In other news, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the transaction, the insider now directly owns 47,112 shares in the company, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. 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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