12,167 Shares in Commerce Bancshares, Inc. $CBSH Bought by Country Trust Bank

Country Trust Bank bought a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,167 shares of the financial services provider's stock, valued at approximately $756,000.

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A number of other institutional investors also recently bought and sold shares of CBSH. Smartleaf Asset Management LLC boosted its position in shares of Commerce Bancshares by 191.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock worth $28,000 after acquiring an additional 296 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Commerce Bancshares in the second quarter valued at approximately $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Commerce Bancshares in the first quarter valued at approximately $59,000. Finally, Private Wealth Asset Management LLC raised its holdings in Commerce Bancshares by 292.6% during the second quarter. Private Wealth Asset Management LLC now owns 1,425 shares of the financial services provider's stock worth $89,000 after purchasing an additional 1,062 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $53.93 on Wednesday. Commerce Bancshares, Inc. has a one year low of $51.12 and a one year high of $71.31. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 4.71 and a beta of 0.62. The company has a 50-day simple moving average of $55.64 and a 200-day simple moving average of $60.06.

Shares of Commerce Bancshares are scheduled to split before the market opens on Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, December 1st.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.03). Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The company had revenue of $448.85 million during the quarter, compared to analyst estimates of $447.04 million. During the same period in the previous year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. Commerce Bancshares's dividend payout ratio (DPR) is 26.25%.

Analysts Set New Price Targets

CBSH has been the subject of several research analyst reports. Hovde Group assumed coverage on shares of Commerce Bancshares in a report on Monday, October 6th. They issued an "outperform" rating and a $70.00 target price for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Commerce Bancshares from $65.00 to $60.00 and set a "market perform" rating for the company in a research note on Friday, October 17th. Morgan Stanley raised their price objective on Commerce Bancshares from $66.00 to $70.00 and gave the stock an "underperform" rating in a report on Monday, September 29th. Zacks Research downgraded Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Commerce Bancshares presently has a consensus rating of "Hold" and a consensus price target of $65.29.

View Our Latest Report on CBSH

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.

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