Chicago Equity Partners LLC trimmed its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 8.4% during the 4th quarter, HoldingsChannel reports. The fund owned 110,713 shares of the financial services provider’s stock after selling 10,170 shares during the period. Chicago Equity Partners LLC’s holdings in Commerce Bancshares were worth $6,241,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Palisades Hudson Asset Management L.P. lifted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Palisades Hudson Asset Management L.P. now owns 4,019 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 191 shares in the last quarter. Dearborn Partners LLC lifted its position in shares of Commerce Bancshares by 3.2% in the fourth quarter. Dearborn Partners LLC now owns 357,914 shares of the financial services provider’s stock valued at $20,176,000 after acquiring an additional 11,240 shares in the last quarter. Securian Asset Management Inc lifted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Securian Asset Management Inc now owns 12,137 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 578 shares in the last quarter. Advanced Asset Management Advisors Inc lifted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Advanced Asset Management Advisors Inc now owns 9,765 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 465 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Commerce Bancshares by 4.9% in the fourth quarter. Ballentine Partners LLC now owns 9,737 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 456 shares in the last quarter. Institutional investors and hedge funds own 62.08% of the company’s stock.
NASDAQ:CBSH opened at $60.50 on Monday. The stock has a market capitalization of $6.75 billion, a P/E ratio of 16.01, a PEG ratio of 3.65 and a beta of 0.74. Commerce Bancshares, Inc. has a 12 month low of $53.40 and a 12 month high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 17th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $345.31 million for the quarter, compared to the consensus estimate of $335.66 million. Commerce Bancshares had a return on equity of 16.29% and a net margin of 31.18%. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be given a $0.26 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 7th. Commerce Bancshares’s payout ratio is currently 24.87%.
Several brokerages have recently commented on CBSH. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Raymond James upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective on the stock in a research report on Friday, January 18th. They noted that the move was a valuation call. Barclays restated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research report on Friday, January 11th. Stephens restated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, December 19th. Finally, Morgan Stanley lowered their price objective on Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.49.
In related news, Director David W. Kemper sold 20,000 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $59.81, for a total value of $1,196,200.00. Following the sale, the director now directly owns 1,319,624 shares in the company, valued at $78,926,711.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David W. Kemper sold 27,728 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $60.12, for a total value of $1,667,007.36. Following the completion of the sale, the director now owns 1,291,896 shares in the company, valued at $77,668,787.52. The disclosure for this sale can be found here. Insiders sold 60,291 shares of company stock worth $3,638,888 over the last quarter. 4.00% of the stock is owned by company insiders.
About Commerce Bancshares
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.
Featured Article: Insider Trading
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.