BNP Paribas Arbitrage SA Has $5.53 Million Stake in Commerce Bancshares, Inc. (CBSH)

BNP Paribas Arbitrage SA grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 151.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,696 shares of the financial services provider’s stock after purchasing an additional 57,663 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.09% of Commerce Bancshares worth $5,528,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $272,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Commerce Bancshares by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after purchasing an additional 8,179 shares during the period. WBI Investments Inc. acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $2,496,000. Legal & General Group Plc raised its stake in Commerce Bancshares by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 404,973 shares of the financial services provider’s stock worth $23,016,000 after buying an additional 6,542 shares during the period. Finally, Financial Counselors Inc. raised its stake in Commerce Bancshares by 54.6% during the 2nd quarter. Financial Counselors Inc. now owns 211,361 shares of the financial services provider’s stock worth $12,012,000 after buying an additional 74,613 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $56.06 on Friday. Commerce Bancshares, Inc. has a 12 month low of $51.90 and a 12 month high of $60.61. The stock has a market capitalization of $5,700.00, a PE ratio of 19.74, a price-to-earnings-growth ratio of 3.09 and a beta of 0.79. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The firm had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities research analysts forecast that Commerce Bancshares, Inc. will post 2.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is 31.91%.

Several brokerages recently commented on CBSH. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $60.00 price objective on shares of Commerce Bancshares in a research note on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research note on Friday, September 15th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Friday, August 11th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.63.

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In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction dated 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 owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the sale, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The disclosure for this sale can be found here. 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.

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

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