Smith Shellnut Wilson LLC ADV acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,994 shares of the financial services provider’s stock, valued at approximately $751,000. Commerce Bancshares comprises 0.7% of Smith Shellnut Wilson LLC ADV’s investment portfolio, making the stock its 26th largest position.
A number of other hedge funds have also added to or reduced their stakes in CBSH. State Street Corp raised its stake in Commerce Bancshares by 3.9% in the fourth quarter. State Street Corp now owns 6,095,893 shares of the financial services provider’s stock worth $352,407,000 after buying an additional 229,173 shares during the period. BlackRock Fund Advisors raised its stake in Commerce Bancshares by 4.3% in the third quarter. BlackRock Fund Advisors now owns 3,149,247 shares of the financial services provider’s stock worth $155,132,000 after buying an additional 130,170 shares during the period. FMR LLC raised its stake in Commerce Bancshares by 4.3% in the fourth quarter. FMR LLC now owns 2,170,574 shares of the financial services provider’s stock worth $125,481,000 after buying an additional 89,912 shares during the period. Bank of New York Mellon Corp raised its stake in Commerce Bancshares by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 945,707 shares of the financial services provider’s stock worth $46,585,000 after buying an additional 7,911 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Commerce Bancshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 912,854 shares of the financial services provider’s stock worth $52,772,000 after buying an additional 24,554 shares during the period. 57.14% of the stock is owned by institutional investors.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up 1.73% during trading on Tuesday, hitting $58.14. 445,299 shares of the stock traded hands. The company has a market cap of $5.90 billion, a P/E ratio of 22.28 and a beta of 0.74. Commerce Bancshares, Inc. has a 12 month low of $38.10 and a 12 month high of $59.22. The company’s 50 day moving average price is $56.83 and its 200 day moving average price is $51.48.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The firm earned $292.70 million during the quarter, compared to the consensus estimate of $299.84 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post $2.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, March 8th. Commerce Bancshares’s dividend payout ratio (DPR) is 34.44%.
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A number of analysts recently weighed in on CBSH shares. Wells Fargo & Company started coverage on shares of Commerce Bancshares in a research note on Friday, January 6th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. Finally, Barclays PLC boosted their target price on shares of Commerce Bancshares from $47.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 6th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $48.30.
In other news, insider John W. Kemper sold 2,400 shares of Commerce Bancshares stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $58.15, for a total value of $139,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David W. Kemper sold 20,000 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $55.03, for a total value of $1,100,600.00. Following the completion of the transaction, the chairman now owns 1,285,709 shares of the company’s stock, valued at approximately $70,752,566.27. The disclosure for this sale can be found here. Insiders have sold a total of 52,887 shares of company stock valued at $2,977,138 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
About Commerce Bancshares
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, 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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