12,530 Shares in Commerce Bancshares, Inc. $CBSH Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the second quarter, Holdings Channel reports. The firm acquired 12,530 shares of the financial services provider’s stock, valued at approximately $724,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the period. Bank of America Corp DE lifted its stake in shares of Commerce Bancshares by 62.9% in the first quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock worth $50,775,000 after acquiring an additional 398,670 shares during the period. Verition Fund Management LLC boosted its holdings in Commerce Bancshares by 39.8% in the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after acquiring an additional 179,894 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Commerce Bancshares by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after acquiring an additional 894,183 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC bought a new stake in Commerce Bancshares in the first quarter valued at approximately $3,390,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CBSH. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Hovde Group reduced their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Morgan Stanley reiterated a “positive” rating and set a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.29.

Commerce Bancshares Stock Down 1.2%

Shares of Commerce Bancshares stock opened at $58.87 on Thursday. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $58.17 and its 200 day moving average is $53.76. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.12 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The business had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same quarter last year, the firm posted $1.14 earnings per share. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Insider Activity at Commerce Bancshares

In other news, SVP Derrick Brooks sold 1,041 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the sale, the senior vice president owned 13,117 shares of the company’s stock, valued at $782,166.71. This trade represents a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David L. Orf sold 642 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $60.35, for a total transaction of $38,744.70. Following the transaction, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,484 shares of company stock worth $1,936,055. Corporate insiders own 1.80% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.