Steward Partners Investment Advisory LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,837 shares of the financial services provider’s stock, valued at approximately $452,000.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors purchased a new stake in Commerce Bancshares in the 2nd quarter valued at approximately $106,000. Citizens Financial Group Inc RI boosted its holdings 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 purchasing an additional 539 shares in the last quarter. Mosaic Family Wealth LLC boosted its holdings 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 purchasing an additional 181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 purchasing an additional 264 shares in the last quarter. Finally, SignalPoint Asset Management LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $226,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.

Shares of Commerce Bancshares, Inc. (CBSH) opened at $56.50 on Tuesday. The company has a market capitalization of $6,030.00, a P/E ratio of 20.76, a PEG ratio of 3.25 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 results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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%. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. research analysts expect that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is 33.58%.

In other news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’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 transaction of $3,028,300.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the business’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 sale, 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. 4.30% of the stock is owned by insiders.

A number of brokerages have weighed in on CBSH. Zacks Investment Research lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. BidaskClub lowered Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a report on Friday, September 15th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a report on Friday, October 6th. Six investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average target price of $56.63.

TRADEMARK VIOLATION NOTICE: “Steward Partners Investment Advisory LLC Purchases Shares of 7,837 Commerce Bancshares, Inc. (CBSH)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.watchlistnews.com/steward-partners-investment-advisory-llc-purchases-shares-of-7837-commerce-bancshares-inc-cbsh/1772208.html.

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.

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

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.