Two Sigma Securities LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,586 shares of the financial services provider's stock, valued at approximately $1,016,000.
Other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new position in shares of Commerce Bancshares during the third quarter valued at about $25,000. Keating Financial Advisory Services Inc. purchased a new position in Commerce Bancshares during the 2nd quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after buying an additional 216 shares in the last quarter. Root Financial Partners LLC increased its stake in Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider's stock worth $31,000 after acquiring an additional 319 shares during the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Commerce Bancshares by 75.3% during the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider's stock worth $54,000 after acquiring an additional 443 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.
Commerce Bancshares Trading Down 0.6%
CBSH stock opened at $57.71 on Tuesday. The company has a market capitalization of $8.28 billion, a PE ratio of 13.97, a P/E/G ratio of 2.06 and a beta of 0.59. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.92. The firm's 50-day moving average is $58.69 and its 200 day moving average is $53.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. The business had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period in the prior year, the firm earned $1.14 EPS. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.
Commerce Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares's payout ratio is 26.63%.
Insiders Place Their Bets
In related news, SVP Derrick Brooks sold 1,041 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total value of $62,074.83. Following the completion of the sale, the senior vice president directly owned 13,117 shares of the company's stock, valued at $782,166.71. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas D. Neff sold 666 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the transaction, the senior vice president owned 11,746 shares in the company, valued at approximately $683,029.90. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 33,150 shares of company stock worth $1,974,783. 1.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CBSH. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research note on Monday, August 10th. Morgan Stanley reaffirmed a "positive" rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Weiss Ratings upgraded Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a "market perform" rating in a research report on Monday, July 20th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.29.
Get Our Latest Stock Report on Commerce Bancshares
Commerce Bancshares Company Profile
(
Free Report)
Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.
The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.
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