Neville Rodie & Shaw Inc. Has $285,000 Position in Commerce Bancshares, Inc. $CBSH

Neville Rodie & Shaw Inc. reduced its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 40.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,577 shares of the financial services provider’s stock after selling 3,054 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Commerce Bancshares were worth $285,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock worth $28,000 after buying an additional 296 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of Commerce Bancshares during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the period. Allworth Financial LP increased its position in shares of Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 231 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Commerce Bancshares during the first quarter valued at approximately $59,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $59.68 on Friday. The firm has a market cap of $7.96 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.75 and a beta of 0.61. The business’s fifty day moving average is $62.17 and its two-hundred day moving average is $61.87. Commerce Bancshares, Inc. has a 52 week low of $52.69 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. Commerce Bancshares’s dividend payout ratio is 26.19%.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Bank of America upped their price target on Commerce Bancshares from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Wells Fargo & Company upped their price target on Commerce Bancshares from $62.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Finally, Zacks Research cut Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.20.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.