Schroder Investment Management Group Increases Position in Commerce Bancshares, Inc. (CBSH)

Schroder Investment Management Group boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,228,535 shares of the financial services provider’s stock after acquiring an additional 19,492 shares during the period. Schroder Investment Management Group owned 1.15% of Commerce Bancshares worth $79,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Findlay Park Partners LLP grew its stake in shares of Commerce Bancshares by 15.9% in the 2nd quarter. Findlay Park Partners LLP now owns 1,500,000 shares of the financial services provider’s stock valued at $97,065,000 after buying an additional 206,083 shares during the period. Citadel Advisors LLC grew its stake in shares of Commerce Bancshares by 3,463.9% in the 2nd quarter. Citadel Advisors LLC now owns 996,514 shares of the financial services provider’s stock valued at $64,484,000 after buying an additional 968,553 shares during the period. Wells Fargo & Company MN grew its stake in shares of Commerce Bancshares by 3.0% in the 2nd quarter. Wells Fargo & Company MN now owns 995,474 shares of the financial services provider’s stock valued at $64,418,000 after buying an additional 28,674 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Commerce Bancshares by 7.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 879,724 shares of the financial services provider’s stock valued at $52,704,000 after buying an additional 59,549 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Commerce Bancshares by 6.7% in the 1st quarter. Northern Trust Corp now owns 729,028 shares of the financial services provider’s stock valued at $43,676,000 after buying an additional 46,084 shares during the period. 64.80% of the stock is owned by institutional investors.

Several analysts have recently weighed in on CBSH shares. BidaskClub raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Barclays increased their price target on shares of Commerce Bancshares from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, July 13th. Stephens reissued a “hold” rating and issued a $65.00 price target on shares of Commerce Bancshares in a research note on Thursday, July 12th. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, ValuEngine cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.22.

In related news, Vice Chairman Jonathan M. Kemper sold 3,000 shares of the stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $68.59, for a total transaction of $205,770.00. Following the completion of the transaction, the insider now owns 947,348 shares of the company’s stock, valued at approximately $64,978,599.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Kemper sold 45,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $71.35, for a total transaction of $3,210,750.00. Following the transaction, the director now directly owns 902,348 shares of the company’s stock, valued at approximately $64,382,529.80. The disclosure for this sale can be found here. Insiders have sold a total of 69,931 shares of company stock valued at $4,920,470 in the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

NASDAQ:CBSH opened at $65.51 on Monday. The company has a market cap of $7.04 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.96 and a beta of 0.67. Commerce Bancshares, Inc. has a fifty-two week low of $54.24 and a fifty-two week high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 12th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.12. The firm had revenue of $335.81 million during the quarter, compared to analysts’ expectations of $319.25 million. Commerce Bancshares had a net margin of 28.84% and a return on equity of 14.24%. During the same quarter last year, the company posted $0.71 EPS. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Friday, September 7th were given a dividend of $0.235 per share. The ex-dividend date was Thursday, September 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.43%. Commerce Bancshares’s payout ratio is currently 33.94%.

Commerce Bancshares Company 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.

Read More: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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