Commerce Bancshares, Inc. (CBSH) Stake Raised by Fmr LLC

Fmr LLC lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,029,867 shares of the financial services provider’s stock after purchasing an additional 40,600 shares during the period. Fmr LLC owned about 2.00% of Commerce Bancshares worth $115,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock worth $488,688,000 after purchasing an additional 246,065 shares during the period. Citigroup Inc. raised its stake in shares of Commerce Bancshares by 1,558.2% during the 2nd quarter. Citigroup Inc. now owns 23,132 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 21,737 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Commerce Bancshares by 3.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 46,165 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 1,447 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Commerce Bancshares by 19.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 82,026 shares of the financial services provider’s stock worth $4,662,000 after purchasing an additional 13,622 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Commerce Bancshares by 27.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock worth $82,318,000 after purchasing an additional 308,460 shares during the period. Institutional investors own 62.20% of the company’s stock.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 58.41 on Monday. The company has a market capitalization of $5.94 billion, a PE ratio of 21.16 and a beta of 0.83. Commerce Bancshares, Inc. has a 52 week low of $45.37 and a 52 week high of $60.61. The company has a 50-day moving average price of $55.58 and a 200-day moving average price of $55.87.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. Commerce Bancshares’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 32.64%.

In other news, insider Jeffery D. Aberdeen sold 687 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total value of $40,594.83. Following the transaction, the insider now owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Insiders sold 20,819 shares of company stock worth $1,174,728 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

A number of research firms have recently commented on CBSH. 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 note on Friday. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research note on Friday, September 15th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Friday, August 11th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Five equities research analysts have rate

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock worth $488,688,000 after purchasing an additional 246,065 shares during the period. Citigroup Inc. raised its stake in shares of Commerce Bancshares by 1,558.2% during the 2nd quarter. Citigroup Inc. now owns 23,132 shares of the financial services provider’s stock worth $1,315,000 after purchasing an additional 21,737 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Commerce Bancshares by 3.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 46,165 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 1,447 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Commerce Bancshares by 19.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 82,026 shares of the financial services provider’s stock worth $4,662,000 after purchasing an additional 13,622 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Commerce Bancshares by 27.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock worth $82,318,000 after purchasing an additional 308,460 shares during the period. Institutional investors own 62.20% of the company’s stock.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 58.41 on Monday. The company has a market capitalization of $5.94 billion, a PE ratio of 21.16 and a beta of 0.83. Commerce Bancshares, Inc. has a 52 week low of $45.37 and a 52 week high of $60.61. The company has a 50-day moving average price of $55.58 and a 200-day moving average price of $55.87.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. Commerce Bancshares’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 32.64%.

In other news, insider Jeffery D. Aberdeen sold 687 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total value of $40,594.83. Following the transaction, the insider now owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Insiders sold 20,819 shares of company stock worth $1,174,728 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

A number of research firms have recently commented on CBSH. 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 note on Friday. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research note on Friday, September 15th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Friday, August 11th. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Commerce Bancshares has an average rating of “Hold” and an average price target of $56.63.

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About Commerce Bancshares

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.

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

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