Crossmark Global Holdings Inc. Takes Position in Commerce Bancshares, Inc. (CBSH)

Crossmark Global Holdings Inc. acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,280 shares of the financial services provider’s stock, valued at approximately $478,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in Commerce Bancshares in the second quarter valued at approximately $106,000. Citizens Financial Group Inc RI raised its stake in shares of Commerce Bancshares by 25.5% during the second 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 last quarter. Mosaic Family Wealth LLC raised its stake in shares of Commerce Bancshares by 5.8% during the second 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Commerce Bancshares by 8.6% during the second 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 last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Commerce Bancshares by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 237 shares during the last quarter. 62.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Commerce Bancshares, Inc. (CBSH) traded down $0.55 during trading hours on Wednesday, hitting $55.62. 191,911 shares of the company’s stock were exchanged, compared to its average volume of 391,131. Commerce Bancshares, Inc. has a 1-year low of $51.90 and a 1-year high of $60.61. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6,098.73, a PE ratio of 21.28, a P/E/G ratio of 3.33 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 EPS for the quarter, missing analysts’ consensus estimates 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 for 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% on a year-over-year basis. equities research analysts forecast that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Thursday, November 30th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.62%. Commerce Bancshares’s payout ratio is 33.51%.

In related news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares in the company, valued at approximately $2,751,340.80. The sale was disclosed in a document filed 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 analysts recently issued reports on the stock. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Tuesday, September 5th. Raymond James Financial restated an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $51.00 price target on shares of Commerce Bancshares in a research report on Friday, September 15th. Jefferies Group reiterated a “hold” rating and issued a $61.00 price target on shares of Commerce Bancshares in a research report on Friday, August 11th. Finally, UBS downgraded shares of Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average 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.

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

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