California State Teachers Retirement System raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 157,681 shares of the financial services provider’s stock after acquiring an additional 8,431 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Commerce Bancshares worth $8,805,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of CBSH. Tower Research Capital LLC TRC lifted its stake in Commerce Bancshares by 189.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 1,448 shares during the period. GSA Capital Partners LLP bought a new position in Commerce Bancshares during the 3rd quarter valued at about $283,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Commerce Bancshares by 52.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,093 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 1,754 shares during the period. Archford Capital Strategies LLC lifted its stake in Commerce Bancshares by 25.3% during the 3rd quarter. Archford Capital Strategies LLC now owns 5,003 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 1,011 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Commerce Bancshares during the 4th quarter valued at about $312,000. Institutional investors and hedge funds own 62.66% of the company’s stock.
Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at $58.19 on Monday. Commerce Bancshares, Inc. has a one year low of $51.90 and a one year high of $61.88. The firm has a market cap of $6,220.05, a P/E ratio of 20.08, a PEG ratio of 2.19 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.62%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, March 8th. Commerce Bancshares’s dividend payout ratio is currently 32.44%.
In related news, insider Jeffrey M. Burik sold 850 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $60.97, for a total value of $51,824.50. Following the completion of the sale, the insider now directly owns 30,055 shares of the company’s stock, valued at approximately $1,832,453.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel D. Callahan sold 2,972 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $58.56, for a total transaction of $174,040.32. Following the completion of the sale, the vice president now directly owns 36,266 shares of the company’s stock, valued at $2,123,736.96. The disclosure for this sale can be found here. Insiders sold a total of 168,774 shares of company stock valued at $9,878,981 over the last three months. 4.00% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Barclays reiterated a “hold” rating and issued a $55.00 price objective on shares of Commerce Bancshares in a research note on Sunday, December 24th. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Commerce Bancshares currently has an average rating of “Hold” and an average price target of $57.88.
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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.
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