Findlay Park Partners LLP purchased a new position in Commerce Bancshares (NASDAQ:CBSH) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,293,917 shares of the financial services provider’s stock, valued at approximately $77,519,000. Findlay Park Partners LLP owned about 1.21% of Commerce Bancshares at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CBSH. Eagle Asset Management Inc. acquired a new stake in shares of Commerce Bancshares during the 1st quarter valued at about $1,170,000. Thrivent Financial for Lutherans boosted its position in shares of Commerce Bancshares by 4.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 21,246 shares of the financial services provider’s stock valued at $1,273,000 after acquiring an additional 833 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Commerce Bancshares by 6.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 600,420 shares of the financial services provider’s stock valued at $35,972,000 after acquiring an additional 36,081 shares in the last quarter. Chicago Equity Partners LLC boosted its position in shares of Commerce Bancshares by 190.5% during the 1st quarter. Chicago Equity Partners LLC now owns 11,743 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of Commerce Bancshares during the 1st quarter valued at about $201,000. Institutional investors own 64.95% of the company’s stock.
Get Commerce Bancshares alerts:In other Commerce Bancshares news, SVP Michael J. Petrie sold 617 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.95, for a total value of $36,372.15. Following the completion of the transaction, the senior vice president now directly owns 10,427 shares of the company’s stock, valued at $614,671.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Jonathan M. Kemper sold 33,424 shares of the business’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $61.04, for a total transaction of $2,040,200.96. Following the completion of the transaction, the insider now directly owns 1,059,102 shares of the company’s stock, valued at $64,647,586.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,536 shares of company stock valued at $3,175,008. Insiders own 4.00% of the company’s stock.
CBSH has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Monday, April 9th. ValuEngine upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. BidaskClub upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Barclays reduced their price target on shares of Commerce Bancshares from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 11th. Finally, Raymond James upgraded shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating in a research report on Tuesday, April 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $60.70.
Commerce Bancshares opened at $64.59 on Monday, MarketBeat Ratings reports. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.94 and a beta of 0.69. Commerce Bancshares has a 12 month low of $51.90 and a 12 month high of $65.77.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, April 12th. The financial services provider reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.12. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. The firm had revenue of $312.58 million for the quarter, compared to analyst estimates of $310.64 million. During the same period in the previous year, the business earned $0.68 earnings per share. equities research analysts predict that Commerce Bancshares will post 3.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 8th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, June 7th. Commerce Bancshares’s dividend payout ratio is presently 33.94%.
Commerce Bancshares Profile
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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