Busey Trust CO maintained its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,116 shares of the financial services provider’s stock at the end of the second quarter. Busey Trust CO’s holdings in Commerce Bancshares were worth $291,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI purchased a new position in shares of Commerce Bancshares during the first quarter valued at about $119,000. Mosaic Family Wealth LLC boosted its position in shares of Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock valued at $175,000 after buying an additional 89 shares during the last quarter. WFG Advisors LP boosted its position in shares of Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock valued at $221,000 after buying an additional 109 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Commerce Bancshares during the first quarter valued at about $233,000. Finally, RFG Advisory Group LLC purchased a new position in shares of Commerce Bancshares during the first quarter valued at about $237,000. 61.42% of the stock is currently owned by institutional investors.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded down 0.53% during mid-day trading on Tuesday, reaching $56.32. The company had a trading volume of 206,770 shares. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 20.41 and a beta of 0.81. The stock has a 50 day moving average of $57.37 and a 200-day moving average of $56.48. Commerce Bancshares, Inc. has a 52 week low of $45.37 and a 52 week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.60%. Commerce Bancshares’s payout ratio is 32.64%.
Several research analysts have issued reports on the company. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 target price on shares of Commerce Bancshares in a research report on Friday. UBS AG cut Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $46.00 price objective on shares of Commerce Bancshares in a research note on Monday, June 12th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 687 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the transaction, the insider now owns 40,232 shares in the company, valued at $2,377,308.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total value of $2,000,563.90. Following the transaction, the insider now owns 1,045,605 shares in the company, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. Insiders sold 48,099 shares of company stock worth $2,643,431 in the last 90 days. Company insiders own 4.30% of the company’s stock.
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.
What are top analysts saying about Commerce Bancshares Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Commerce Bancshares Inc. and related companies.