Crossmark Global Holdings Inc. Invests $478,000 in Commerce Bancshares, Inc. (CBSH)

Crossmark Global Holdings Inc. purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,280 shares of the financial services provider’s stock, valued at approximately $478,000.

Several other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Commerce Bancshares in the second quarter worth approximately $106,000. Citizens Financial Group Inc RI raised its stake in Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after buying an additional 539 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Commerce Bancshares by 5.8% in the second quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock worth $187,000 after buying an additional 181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after buying an additional 264 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Commerce Bancshares by 5.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock worth $240,000 after buying an additional 237 shares in the last quarter. 68.54% of the stock is owned by hedge funds and other institutional investors.

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In other news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the sale, the insider now directly owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Capps sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total transaction of $548,200.00. Following the sale, the director now directly owns 12,828 shares in the company, valued at $703,230.96. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

A number of brokerages recently commented on CBSH. Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Piper Jaffray Companies reissued a “neutral” rating and issued a $60.00 price objective on shares of Commerce Bancshares in a research note on Friday, October 6th. BidaskClub downgraded shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Finally, UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $56.63.

Commerce Bancshares, Inc. (NASDAQ CBSH) opened at $56.47 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares, Inc. has a 1-year low of $51.90 and a 1-year high of $60.61. The stock has a market cap of $5,697.53, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 3.11 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The firm had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. During the same period in the prior year, the firm posted $0.68 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Commerce Bancshares, Inc. will post 2.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is currently 31.91%.

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

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