Prudential Financial Inc. raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 65.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,842 shares of the financial services provider’s stock after buying an additional 42,780 shares during the quarter. Prudential Financial Inc. owned about 0.11% of Commerce Bancshares worth $6,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new position in Commerce Bancshares during the first quarter worth about $119,000. Mosaic Family Wealth LLC grew its position in Commerce Bancshares by 5.8% during the second quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock worth $187,000 after buying an additional 181 shares in the last quarter. WFG Advisors LP grew its position in Commerce Bancshares by 2.8% during the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares in the last quarter. RFG Advisory Group LLC purchased a new position in Commerce Bancshares during the first quarter worth about $237,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Commerce Bancshares by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,229 shares of the financial services provider’s stock worth $240,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Commerce Bancshares, Inc. (CBSH) Position Boosted by Prudential Financial Inc.” was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this report on another website, it was stolen and reposted in violation of U.S. and international copyright law. The legal version of this report can be accessed at https://theolympiareport.com/2017/09/17/commerce-bancshares-inc-cbsh-position-boosted-by-prudential-financial-inc.html.

Several equities analysts recently commented on CBSH shares. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Barclays PLC set a $58.00 target price on Commerce Bancshares and gave the stock a “hold” rating in a research report on Sunday, July 16th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 target price on shares of Commerce Bancshares in a research report on Friday, July 14th. Jefferies Group LLC restated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Friday, July 14th. Finally, Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.25.

In other news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total transaction of $548,200.00. Following the completion of the transaction, the director now owns 12,828 shares in the company, valued at $703,230.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,819 shares of company stock valued at $1,174,728. Company insiders own 4.30% of the company’s stock.

Commerce Bancshares, Inc. (CBSH) opened at 55.17 on Friday. The stock has a 50 day moving average price of $55.53 and a 200-day moving average price of $56.01. The stock has a market capitalization of $5.61 billion, a PE ratio of 19.99 and a beta of 0.82. Commerce Bancshares, Inc. has a 12-month low of $47.64 and a 12-month high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The firm had revenue of $305.89 million during the quarter, compared to analyst estimates of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.63%. Commerce Bancshares’s payout ratio is 32.64%.

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, 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).

Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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 Analyst Ratings Network's FREE daily email newsletter.