State of Alaska Department of Revenue increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,788 shares of the financial services provider's stock after acquiring an additional 240 shares during the period. State of Alaska Department of Revenue's holdings in Commerce Bancshares were worth $1,036,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBSH. Quadrant Capital Group LLC lifted its stake in Commerce Bancshares by 81.8% in the first quarter. Quadrant Capital Group LLC now owns 651 shares of the financial services provider's stock worth $47,000 after purchasing an additional 293 shares during the last quarter. Signaturefd LLC lifted its stake in Commerce Bancshares by 36.0% in the first quarter. Signaturefd LLC now owns 672 shares of the financial services provider's stock worth $48,000 after purchasing an additional 178 shares during the last quarter. National Bank of Canada FI lifted its stake in Commerce Bancshares by 71.8% in the first 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 last quarter. Point72 Hong Kong Ltd lifted its stake in Commerce Bancshares by 274.0% in the fourth quarter. Point72 Hong Kong Ltd now owns 819 shares of the financial services provider's stock worth $56,000 after purchasing an additional 600 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new stake in Commerce Bancshares in the second quarter worth about $75,000. Hedge funds and other institutional investors own 68.76% of the company's stock.
Get Commerce Bancshares alerts:Commerce Bancshares Stock Performance
Commerce Bancshares stock opened at $67.22 on Thursday. The company has a market capitalization of $8.06 billion, a PE ratio of 17.37 and a beta of 0.79. Commerce Bancshares, Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $74.72. The company has a 50 day moving average price of $70.15 and a 200-day moving average price of $69.13.
Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. 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 $371.80 million during the quarter, compared to the consensus estimate of $362.50 million. Commerce Bancshares had a net margin of 32.88% and a return on equity of 14.98%. Commerce Bancshares's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. On average, analysts forecast that Commerce Bancshares, Inc. will post 4.06 earnings per share for the current year.Commerce Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Wednesday, September 7th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, September 6th. Commerce Bancshares's dividend payout ratio (DPR) is 27.39%.
Insider Buying and Selling
In other Commerce Bancshares news, CEO John W. Kemper sold 4,285 shares of Commerce Bancshares stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.41, for a total value of $310,276.85. Following the transaction, the chief executive officer now directly owns 184,303 shares of the company's stock, valued at $13,345,380.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 2,000 shares of Commerce Bancshares stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $70.45, for a total value of $140,900.00. Following the transaction, the executive vice president now directly owns 43,058 shares of the company's stock, valued at $3,033,436.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Kemper sold 4,285 shares of the business's stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $72.41, for a total transaction of $310,276.85. Following the sale, the chief executive officer now directly owns 184,303 shares in the company, valued at $13,345,380.23. The disclosure for this sale can be found here. Insiders sold 6,474 shares of company stock valued at $464,244 over the last 90 days. Corporate insiders own 3.20% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on CBSH. Jefferies Financial Group decreased their price objective on shares of Commerce Bancshares from $75.00 to $71.00 in a research note on Monday, July 11th. DA Davidson lifted their price target on shares of Commerce Bancshares to $71.00 in a research note on Monday, July 25th. Finally, StockNews.com raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, July 18th.
Commerce Bancshares Company Profile
(Get Rating)
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Commerce Bancshares (CBSH)
- A Trio of Q3 Winners With Room to Run
- This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
- Can HCA Healthcare Weather the Normalization?
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
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 – Get Rating).
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.