Evanson Asset Management LLC maintained its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the second quarter, Holdings Channel reports. The fund owned 4,946 shares of the financial services provider’s stock at the end of the second quarter. Evanson Asset Management LLC’s holdings in Commerce Bancshares were worth $281,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Parametrica Management Ltd acquired a new stake in Commerce Bancshares during the first quarter valued at approximately $233,000. Capstone Asset Management Co. boosted its stake in Commerce Bancshares by 0.5% in the first quarter. Capstone Asset Management Co. now owns 7,220 shares of the financial services provider’s stock valued at $405,000 after buying an additional 37 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Commerce Bancshares by 4.7% in the first quarter. Confluence Investment Management LLC now owns 266,126 shares of the financial services provider’s stock valued at $14,946,000 after buying an additional 12,060 shares in the last quarter. Teachers Advisors LLC boosted its stake in Commerce Bancshares by 23.3% in the fourth quarter. Teachers Advisors LLC now owns 110,673 shares of the financial services provider’s stock valued at $6,398,000 after buying an additional 20,944 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Commerce Bancshares during the fourth quarter valued at approximately $680,000. Hedge funds and other institutional investors own 62.11% of the company’s stock.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 0.42% during trading on Monday, hitting $56.88. The stock had a trading volume of 255,984 shares. The stock’s 50 day moving average is $55.41 and its 200 day moving average is $56.46. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 21.28 and a beta of 0.81. Commerce Bancshares, Inc. has a 52 week low of $44.27 and a 52 week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $295.30 million during the quarter, compared to analysts’ expectations of $298.61 million. Commerce Bancshares had a net margin of 23.43% and a return on equity of 11.76%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts expect that Commerce Bancshares, Inc. will post $2.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Friday, June 9th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, June 7th. Commerce Bancshares’s payout ratio is 33.65%.
ILLEGAL ACTIVITY WARNING: This story was originally posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.wkrb13.com/markets/2286308/commerce-bancshares-inc-cbsh-position-maintained-by-evanson-asset-management-llc.html.
Several analysts recently commented on the company. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, March 21st. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $46.00 price target on shares of Commerce Bancshares in a research report on Monday, June 12th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a research report on Sunday, June 11th. Finally, Barclays PLC lowered their price target on Commerce Bancshares from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $54.50.
In other news, insider Michael J. Petrie sold 1,379 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $56.64, for a total value of $78,106.56. Following the completion of the transaction, the insider now owns 14,191 shares of the company’s stock, valued at approximately $803,778.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patricia R. Kellerhals sold 604 shares of the business’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $54.50, for a total transaction of $32,918.00. Following the completion of the transaction, the insider now directly owns 5,563 shares of the company’s stock, valued at approximately $303,183.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,167 shares of company stock valued at $3,602,308 in the last quarter. Corporate 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.
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).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286308/commerce-bancshares-inc-cbsh-position-maintained-by-evanson-asset-management-llc.html
Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.