Quadrant Capital Group LLC lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 81.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 651 shares of the financial services provider's stock after acquiring an additional 293 shares during the quarter. Quadrant Capital Group LLC's holdings in Commerce Bancshares were worth $47,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in shares of Commerce Bancshares by 3.5% during the 1st quarter. CIBC Asset Management Inc now owns 17,077 shares of the financial services provider's stock worth $1,223,000 after purchasing an additional 578 shares during the period. National Bank of Canada FI boosted its stake in shares of Commerce Bancshares by 71.8% during the 1st quarter. National Bank of Canada FI now owns 725 shares of the financial services provider's stock worth $52,000 after purchasing an additional 303 shares during the period. MCF Advisors LLC purchased a new position in shares of Commerce Bancshares during the 1st quarter worth about $96,000. Russell Investments Group Ltd. boosted its stake in shares of Commerce Bancshares by 25.6% during the 1st quarter. Russell Investments Group Ltd. now owns 89,666 shares of the financial services provider's stock worth $6,415,000 after purchasing an additional 18,250 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Commerce Bancshares by 151.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,546 shares of the financial services provider's stock worth $1,614,000 after purchasing an additional 13,580 shares during the period. 67.85% of the stock is owned by hedge funds and other institutional investors.
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Commerce Bancshares Stock Performance
NASDAQ:CBSH opened at $71.02 on Tuesday. Commerce Bancshares, Inc. has a one year low of $61.81 and a one year high of $74.72. The firm has a market cap of $8.57 billion, a P/E ratio of 18.35 and a beta of 0.80. The firm has a 50-day simple moving average of $67.23 and a 200-day simple moving average of $69.09.
Commerce Bancshares (NASDAQ:CBSH – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Commerce Bancshares had a net
margin of 32.88% and a return on equity of 14.27%. The business had revenue of $371.80 million during the quarter, compared to analyst estimates of $362.50 million. During the same quarter in the previous year, the business posted $1.38 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Commerce Bancshares, Inc. will post 4.04 EPS for the current fiscal year.
Commerce Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.49%. Commerce Bancshares's dividend payout ratio is currently 27.39%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on CBSH shares. DA Davidson lifted their price target on shares of Commerce Bancshares to $71.00 in a research note on Monday, July 25th. Jefferies Financial Group lowered their price objective on shares of Commerce Bancshares from $75.00 to $71.00 in a research report on Monday, July 11th. Finally, StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, July 18th.
Insider Activity
In other news, EVP Robert S. Holmes sold 2,000 shares of the business's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $70.45, for a total value of $140,900.00. Following the completion of the sale, the executive vice president now owns 43,058 shares in the company, valued at approximately $3,033,436.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Blackford F. Brauer acquired 5,000 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average price of $68.31 per share, for a total transaction of $341,550.00. Following the purchase, the director now directly owns 6,027 shares in the company, valued at approximately $411,704.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert S. Holmes sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $70.45, for a total transaction of $140,900.00. Following the transaction, the executive vice president now owns 43,058 shares of the company's stock, valued at approximately $3,033,436.10. The disclosure for this sale can be found here. In the last quarter, insiders acquired 15,000 shares of company stock worth $1,015,150. 3.20% of the stock is currently owned by corporate insiders.
Commerce Bancshares Company Profile
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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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.
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