Bank of The Ozarks maintained its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,027 shares of the financial services provider’s stock at the end of the second quarter. Bank of The Ozarks’ holdings in Commerce Bancshares were worth $1,138,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Citizens Financial Group Inc. RI acquired a new stake in Commerce Bancshares during the first quarter worth about $119,000. Mosaic Family Wealth LLC increased its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares in the last quarter. WFG Advisors LP increased its stake in Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Commerce Bancshares during the first quarter worth about $233,000. Finally, RFG Advisory Group LLC acquired a new stake in Commerce Bancshares during the first quarter worth about $237,000. 62.13% of the stock is owned by institutional investors and hedge funds.
Commerce Bancshares, Inc. (NASDAQ CBSH) opened at 56.97 on Thursday. The firm has a 50-day moving average of $57.40 and a 200 day moving average of $56.49. Commerce Bancshares, Inc. has a 12 month low of $45.37 and a 12 month high of $60.61. The firm has a market capitalization of $5.79 billion, a PE ratio of 20.65 and a beta of 0.81.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same period last year, the firm posted $0.70 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, September 7th. Commerce Bancshares’s payout ratio is 32.64%.
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A number of analysts have issued reports on CBSH shares. Stephens reissued a “hold” rating on shares of Commerce Bancshares in a report on Monday, April 17th. Barclays PLC upped their price target on shares of Commerce Bancshares from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Piper Jaffray Companies cut their price target on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Morgan Stanley upped their price target on shares of Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a report on Tuesday, June 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a report on Sunday, June 11th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $55.00.
In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of Commerce Bancshares stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the transaction, the insider now directly owns 1,045,605 shares of the company’s stock, valued at $56,567,230.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David W. Kemper sold 10,132 shares of Commerce Bancshares stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,099 shares of company stock worth $2,643,431. 4.30% of the stock is owned by insiders.
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.
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