People s United Financial Inc. raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,946 shares of the financial services provider’s stock after buying an additional 1,143 shares during the period. People s United Financial Inc.’s holdings in Commerce Bancshares were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CBSH. Citadel Advisors LLC increased its holdings in shares of Commerce Bancshares by 3,463.9% during the second quarter. Citadel Advisors LLC now owns 996,514 shares of the financial services provider’s stock worth $64,484,000 after buying an additional 968,553 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Commerce Bancshares by 34.1% during the second quarter. Schroder Investment Management Group now owns 1,621,188 shares of the financial services provider’s stock valued at $72,468,000 after purchasing an additional 412,145 shares during the last quarter. Findlay Park Partners LLP grew its stake in shares of Commerce Bancshares by 15.9% during the second quarter. Findlay Park Partners LLP now owns 1,500,000 shares of the financial services provider’s stock valued at $97,065,000 after purchasing an additional 206,083 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Commerce Bancshares by 9,859.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 164,234 shares of the financial services provider’s stock valued at $10,843,000 after purchasing an additional 162,585 shares during the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Commerce Bancshares by 2,341.9% during the second quarter. WINTON GROUP Ltd now owns 166,439 shares of the financial services provider’s stock valued at $10,770,000 after purchasing an additional 159,623 shares during the last quarter. 63.41% of the stock is owned by institutional investors.
In other Commerce Bancshares news, Director Jonathan M. Kemper sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $71.35, for a total value of $3,210,750.00. Following the transaction, the director now directly owns 902,348 shares of the company’s stock, valued at $64,382,529.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel D. Callahan sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $65.91, for a total transaction of $98,865.00. Following the completion of the transaction, the insider now directly owns 26,036 shares in the company, valued at $1,716,032.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,378 shares of company stock worth $4,016,405. Insiders own 4.00% of the company’s stock.
Several research firms have recently commented on CBSH. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, ValuEngine cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $64.33.
CBSH opened at $60.10 on Friday. Commerce Bancshares, Inc. has a one year low of $54.24 and a one year high of $72.55. The company has a market cap of $6.75 billion, a PE ratio of 22.77, a P/E/G ratio of 1.91 and a beta of 0.65.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. Commerce Bancshares had a net margin of 30.97% and a return on equity of 15.56%. The firm had revenue of $331.47 million for the quarter, compared to analysts’ expectations of $330.91 million. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a $0.235 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.94 dividend on an annualized basis and a yield of 1.56%. Commerce Bancshares’s payout ratio is presently 35.61%.
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Commerce Bancshares Profile
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.
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