Oregon Public Employees Retirement Fund decreased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,397 shares of the financial services provider’s stock after selling 804 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Commerce Bancshares were worth $2,677,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BBVA USA Bancshares Inc. boosted its holdings in shares of Commerce Bancshares by 2.7% in the third quarter. BBVA USA Bancshares Inc. now owns 15,502 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 407 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Commerce Bancshares by 1.2% in the third quarter. Parametric Portfolio Associates LLC now owns 184,183 shares of the financial services provider’s stock valued at $11,171,000 after acquiring an additional 2,219 shares in the last quarter. Barber Financial Group Inc. boosted its holdings in shares of Commerce Bancshares by 6.8% in the third quarter. Barber Financial Group Inc. now owns 16,628 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 1,053 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Commerce Bancshares by 10.9% in the third quarter. First Trust Advisors LP now owns 182,261 shares of the financial services provider’s stock valued at $11,054,000 after acquiring an additional 17,949 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Commerce Bancshares by 2.8% during the third quarter. Voya Investment Management LLC now owns 18,151 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 493 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.
CBSH stock opened at $70.16 on Friday. The company has a market cap of $7.97 billion, a P/E ratio of 19.71, a P/E/G ratio of 6.90 and a beta of 0.75. Commerce Bancshares, Inc. has a 52 week low of $54.65 and a 52 week high of $71.92. The company’s 50-day moving average price is $68.32 and its 200 day moving average price is $63.57.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $346.12 million for the quarter, compared to the consensus estimate of $332.87 million. Commerce Bancshares had a net margin of 29.06% and a return on equity of 14.18%. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.54%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.26. Commerce Bancshares’s payout ratio is currently 29.05%.
CBSH has been the topic of a number of research analyst reports. Wells Fargo & Co downgraded shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective on the stock. in a report on Monday, January 6th. They noted that the move was a valuation call. DA Davidson boosted their price objective on shares of Commerce Bancshares to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, December 24th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock an “underweight” rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.00.
In other Commerce Bancshares news, CEO John W. Kemper sold 7,798 shares of Commerce Bancshares stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $70.52, for a total transaction of $549,914.96. Following the completion of the transaction, the chief executive officer now owns 170,024 shares in the company, valued at $11,990,092.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David W. Kemper sold 30,981 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.35, for a total transaction of $2,117,551.35. Following the transaction, the director now owns 1,221,025 shares of the company’s stock, valued at approximately $83,457,058.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,459 shares of company stock worth $5,225,069. 3.60% of the stock is owned by insiders.
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. 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 banking services.
Read More: Asset Allocation, Balancing Your Investments
Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (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.