Schroder Investment Management Group Has $48.49 Million Holdings in Commerce Bancshares, Inc. (CBSH)
Schroder Investment Management Group boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 844,628 shares of the financial services provider’s stock after purchasing an additional 12,843 shares during the period. Schroder Investment Management Group owned approximately 0.83% of Commerce Bancshares worth $48,491,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CBSH. Captrust Financial Advisors acquired a new stake in shares of Commerce Bancshares during the 2nd quarter valued at about $106,000. Citizens Financial Group Inc RI grew its position in shares of Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 539 shares during the period. Mosaic Family Wealth LLC grew its position in shares of Commerce Bancshares by 5.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 264 shares during the period. Finally, SignalPoint Asset Management LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $226,000. 69.05% of the stock is currently owned by institutional investors.
Shares of Commerce Bancshares, Inc. (CBSH) traded down $0.51 during trading on Friday, reaching $56.62. 311,600 shares of the company were exchanged, compared to its average volume of 392,731. The stock has a market cap of $5,928.24, a price-to-earnings ratio of 20.68, a PEG ratio of 3.24 and a beta of 0.80. Commerce Bancshares, Inc. has a 1 year low of $51.90 and a 1 year high of $60.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. equities analysts anticipate that Commerce Bancshares, Inc. will post 2.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Thursday, November 30th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is presently 31.91%.
In related news, insider V Raymond Stranghoener sold 6,399 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the transaction, the insider now directly owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.30% of the company’s stock.
A number of equities research analysts have recently commented on CBSH shares. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, October 6th. Jefferies Group restated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Friday, August 11th. Piper Jaffray Companies restated a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $56.63.
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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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