Commerce Bancshares, Inc. (CBSH) Stake Decreased by Federated Investors Inc. PA
Federated Investors Inc. PA lessened its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 36,034 shares of the financial services provider’s stock after selling 1,196 shares during the quarter. Federated Investors Inc. PA’s holdings in Commerce Bancshares were worth $2,332,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of Commerce Bancshares by 303.5% in the 2nd quarter. SG Americas Securities LLC now owns 44,504 shares of the financial services provider’s stock valued at $2,880,000 after acquiring an additional 33,474 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $206,000. Hsbc Holdings PLC increased its holdings in shares of Commerce Bancshares by 210.3% in the 1st quarter. Hsbc Holdings PLC now owns 37,197 shares of the financial services provider’s stock valued at $2,228,000 after acquiring an additional 25,209 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Commerce Bancshares by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 409,032 shares of the financial services provider’s stock valued at $24,546,000 after acquiring an additional 13,366 shares during the period. Finally, RMB Capital Management LLC increased its holdings in shares of Commerce Bancshares by 34.3% in the 1st quarter. RMB Capital Management LLC now owns 11,550 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 2,951 shares during the period. Institutional investors and hedge funds own 65.07% of the company’s stock.
Shares of CBSH opened at $69.28 on Monday. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.85 and a beta of 0.65. Commerce Bancshares, Inc. has a 1 year low of $54.24 and a 1 year high of $72.55.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Shareholders of record on Friday, September 7th will be paid a $0.235 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.94 annualized dividend and a yield of 1.36%. Commerce Bancshares’s dividend payout ratio is currently 33.94%.
A number of brokerages have recently commented on CBSH. Bank of America set a $68.00 target price on shares of Commerce Bancshares and gave the company a “sell” rating in a report on Friday, July 13th. BidaskClub cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th. Raymond James cut shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 10th. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $60.00 to $63.00 and gave the company an “underweight” rating in a report on Tuesday, July 17th. Finally, Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.22.
In other Commerce Bancshares news, CEO David W. Kemper sold 9,465 shares of the business’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $68.60, for a total value of $649,299.00. Following the transaction, the chief executive officer now directly owns 1,291,012 shares of the company’s stock, valued at approximately $88,563,423.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel D. Callahan sold 8,000 shares of the business’s stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $67.43, for a total transaction of $539,440.00. Following the completion of the transaction, the insider now directly owns 27,257 shares in the company, valued at $1,837,939.51. The disclosure for this sale can be found here. Insiders sold a total of 69,931 shares of company stock worth $4,920,470 over the last three months. 4.00% of the stock is currently owned by corporate insiders.
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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