BTIM Corp. decreased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 640,559 shares of the financial services provider’s stock after selling 93,828 shares during the period. BTIM Corp. owned about 0.63% of Commerce Bancshares worth $36,403,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. First Quadrant L P CA boosted its stake in shares of Commerce Bancshares by 26.3% in the second quarter. First Quadrant L P CA now owns 361,685 shares of the financial services provider’s stock valued at $20,555,000 after buying an additional 75,342 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Commerce Bancshares by 3.2% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 700 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID boosted its stake in shares of Commerce Bancshares by 2.2% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 275,123 shares of the financial services provider’s stock valued at $15,635,000 after buying an additional 5,915 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Commerce Bancshares by 18.2% in the second quarter. LS Investment Advisors LLC now owns 6,994 shares of the financial services provider’s stock valued at $397,000 after buying an additional 1,078 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Commerce Bancshares by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,926 shares of the financial services provider’s stock valued at $1,814,000 after buying an additional 1,331 shares during the last quarter. 62.07% of the stock is currently owned by institutional investors.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 0.42% on Thursday, hitting $57.50. The company’s stock had a trading volume of 65,935 shares. The stock has a 50-day moving average price of $56.47 and a 200 day moving average price of $56.38. Commerce Bancshares, Inc. has a one year low of $44.27 and a one year high of $60.61. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 20.84 and a beta of 0.81.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. Equities research analysts predict that Commerce Bancshares, Inc. will post $2.94 EPS for the current year.
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Several equities research analysts have weighed in on the company. Barclays PLC set a $58.00 price objective on Commerce Bancshares and gave the stock a “hold” rating in a research note on Sunday. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Monday. Stephens restated an “equal weight” rating and set a $56.00 target price (up previously from $52.00) on shares of Commerce Bancshares in a research report on Monday. Piper Jaffray Companies restated a “hold” rating and set a $52.00 target price on shares of Commerce Bancshares in a research report on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Commerce Bancshares has an average rating of “Hold” and an average price target of $55.00.
In related news, insider V Raymond Stranghoener sold 4,182 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $56.22, for a total value of $235,112.04. Following the completion of the sale, the insider now owns 47,112 shares in the company, valued at approximately $2,648,636.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles G. Kim sold 3,712 shares of Commerce Bancshares stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $55.31, for a total transaction of $205,310.72. Following the completion of the sale, the insider now owns 80,475 shares of the company’s stock, valued at approximately $4,451,072.25. The disclosure for this sale can be found here. Insiders have sold a total of 49,854 shares of company stock valued at $2,713,227 in the last 90 days. Insiders own 4.30% of the company’s stock.
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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