Janney Montgomery Scott LLC Has $9.87 Million Stake in Commerce Bancshares, Inc. $CBSH

Janney Montgomery Scott LLC lowered its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,544 shares of the financial services provider’s stock after selling 15,551 shares during the period. Janney Montgomery Scott LLC owned approximately 0.14% of Commerce Bancshares worth $9,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CBSH. Norges Bank acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $85,282,000. Champlain Investment Partners LLC bought a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $58,830,000. Vanguard Group Inc. grew its position in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares in the last quarter. Victory Capital Management Inc. grew its position in Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock worth $59,965,000 after buying an additional 1,070,980 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Commerce Bancshares by 37.4% during the 4th quarter. First Trust Advisors LP now owns 2,352,406 shares of the financial services provider’s stock worth $123,125,000 after acquiring an additional 640,928 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $58.03 on Friday. The firm has a 50 day simple moving average of $53.33 and a two-hundred day simple moving average of $52.39. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $63.19. The company has a market cap of $8.46 billion, a P/E ratio of 13.92, a P/E/G ratio of 3.97 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The firm had revenue of $475.69 million for the quarter, compared to the consensus estimate of $481.94 million. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post 4.14 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, June 5th. Commerce Bancshares’s dividend payout ratio is currently 26.38%.

Analysts Set New Price Targets

Several brokerages have weighed in on CBSH. Wells Fargo & Company dropped their price objective on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley restated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research report on Monday. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.00.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.