JPMorgan Chase & Co. cut its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,085,216 shares of the financial services provider’s stock after selling 7,232 shares during the quarter. JPMorgan Chase & Co. owned about 1.07% of Commerce Bancshares worth $62,302,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at $106,000. Citizens Financial Group Inc RI boosted its position in shares of Commerce Bancshares by 25.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 539 shares in the last quarter. Mosaic Family Wealth LLC boosted its position in shares of Commerce Bancshares by 5.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Commerce Bancshares by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 264 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth $226,000. Institutional investors and hedge funds own 62.11% of the company’s stock.
A number of analysts have recently weighed in on CBSH shares. UBS cut Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Raymond James Financial reissued an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Jefferies Group reissued a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, August 11th. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Commerce Bancshares currently has an average rating of “Hold” and an average target price of $56.63.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $55.62 on Thursday. Commerce Bancshares, Inc. has a 52-week low of $51.90 and a 52-week high of $60.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $6,098.73, a PE ratio of 21.28, a price-to-earnings-growth ratio of 3.33 and a beta of 0.80.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The firm had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.62%. Commerce Bancshares’s dividend payout ratio is currently 33.51%.
In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.
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Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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