Swiss National Bank Raises Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)


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Swiss National Bank boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 238,298 shares of the financial services provider’s stock after purchasing an additional 10,747 shares during the quarter. Swiss National Bank’s holdings in Commerce Bancshares were worth $15,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Parallel Advisors LLC increased its stake in Commerce Bancshares by 6.1% in the 4th quarter. Parallel Advisors LLC now owns 2,722 shares of the financial services provider’s stock worth $179,000 after buying an additional 157 shares in the last quarter. ICW Investment Advisors LLC increased its stake in Commerce Bancshares by 3.6% in the 3rd quarter. ICW Investment Advisors LLC now owns 6,562 shares of the financial services provider’s stock worth $369,000 after buying an additional 227 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 5,481 shares of the financial services provider’s stock worth $360,000 after buying an additional 261 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Reilly Financial Advisors LLC now owns 5,739 shares of the financial services provider’s stock worth $377,000 after buying an additional 273 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Commerce Bancshares by 0.9% in the 4th quarter. Arizona State Retirement System now owns 30,565 shares of the financial services provider’s stock worth $2,008,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.

Shares of NASDAQ:CBSH opened at $74.25 on Tuesday. Commerce Bancshares, Inc. has a 12 month low of $43.34 and a 12 month high of $74.94. The company has a 50-day moving average price of $70.63 and a 200 day moving average price of $63.94. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 27.65 and a beta of 0.96.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.17. Commerce Bancshares had a net margin of 23.67% and a return on equity of 10.49%. The firm had revenue of $344.90 million during the quarter, compared to the consensus estimate of $347.85 million. During the same quarter last year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 2.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 24th. Investors of record on Tuesday, March 9th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, March 8th. Commerce Bancshares’s payout ratio is 31.67%.

Several research firms have commented on CBSH. Morgan Stanley increased their price objective on shares of Commerce Bancshares from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Wednesday, January 27th. Zacks Investment Research downgraded shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating and set a $67.00 price objective for the company. in a report on Tuesday, December 8th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Commerce Bancshares has an average rating of “Hold” and a consensus target price of $58.80.

In other Commerce Bancshares news, Director Jonathan M. Kemper sold 6,877 shares of the firm’s stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $69.08, for a total value of $475,063.16. Following the completion of the sale, the director now owns 899,987 shares of the company’s stock, valued at $62,171,101.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David L. Orf sold 592 shares of the firm’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $74.07, for a total transaction of $43,849.44. Following the completion of the sale, the vice president now directly owns 13,851 shares of the company’s stock, valued at approximately $1,025,943.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,934 shares of company stock valued at $4,832,344. 3.40% of the stock is owned by insiders.

Commerce Bancshares Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSH).

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

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