First Command Bank cut its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392 shares of the financial services provider’s stock after selling 171 shares during the quarter. First Command Bank’s holdings in Commerce Bancshares were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Resources Management Corp CT ADV purchased a new stake in Commerce Bancshares in the third quarter worth about $34,000. Nomura Asset Management Co. Ltd. purchased a new stake in Commerce Bancshares in the second quarter worth about $35,000. Meeder Asset Management Inc. lifted its holdings in Commerce Bancshares by 217.0% in the third quarter. Meeder Asset Management Inc. now owns 821 shares of the financial services provider’s stock worth $50,000 after buying an additional 562 shares during the period. Captrust Financial Advisors purchased a new stake in Commerce Bancshares in the second quarter worth about $50,000. Finally, Point72 Asset Management L.P. purchased a new stake in Commerce Bancshares in the second quarter worth about $60,000. Institutional investors and hedge funds own 65.80% of the company’s stock.
In related news, EVP John K. Handy sold 1,646 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $67.37, for a total value of $110,891.02. Following the completion of the transaction, the executive vice president now directly owns 32,907 shares in the company, valued at approximately $2,216,944.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles G. Kim sold 4,475 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $67.34, for a total transaction of $301,346.50. Following the completion of the transaction, the chief financial officer now owns 85,387 shares of the company’s stock, valued at $5,749,960.58. The disclosure for this sale can be found here. Insiders have sold 45,385 shares of company stock valued at $2,944,406 over the last quarter. Company insiders own 3.60% of the company’s stock.
CBSH stock opened at $67.35 on Wednesday. The firm has a 50 day moving average price of $66.91 and a 200-day moving average price of $62.11. Commerce Bancshares, Inc. has a 52-week low of $54.65 and a 52-week high of $68.65. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 6.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.73.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The firm had revenue of $336.30 million during the quarter, compared to analyst estimates of $337.31 million. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.26 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.04 annualized dividend and a dividend yield of 1.54%. Commerce Bancshares’s payout ratio is 28.89%.
About Commerce Bancshares
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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