Victory Capital Management Inc. raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 79,815 shares of the financial services provider’s stock after acquiring an additional 247 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Commerce Bancshares worth $4,762,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $35,000. Synovus Financial Corp acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $49,000. Captrust Financial Advisors acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $50,000. Point72 Asset Management L.P. acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $60,000. Finally, Trustcore Financial Services LLC acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $75,000. 65.80% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on CBSH shares. Morgan Stanley reduced their price objective on Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Thursday. Stephens started coverage on Commerce Bancshares in a research report on Monday, September 16th. They set a “weight” rating and a $59.00 target price on the stock. Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.57.
Shares of NASDAQ:CBSH traded down $0.10 during mid-day trading on Thursday, hitting $58.48. 15,277 shares of the company traded hands, compared to its average volume of 464,601. The stock has a market cap of $6.66 billion, a P/E ratio of 15.48, a P/E/G ratio of 5.51 and a beta of 0.75. Commerce Bancshares, Inc. has a 12-month low of $53.40 and a 12-month high of $67.94. The stock has a 50-day moving average price of $58.51 and a two-hundred day moving average price of $59.01.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.02. The company had revenue of $338.90 million for the quarter, compared to analysts’ expectations of $339.94 million. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. Commerce Bancshares’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, research analysts forecast that Commerce Bancshares, Inc. will post 3.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.04 annualized dividend and a dividend yield of 1.78%. Commerce Bancshares’s payout ratio is 27.51%.
Commerce Bancshares Company 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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