Commerce Bancshares, Inc. (CBSH) Holdings Cut by Vaughan David Investments Inc. IL
Vaughan David Investments Inc. IL lessened its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,672 shares of the financial services provider’s stock after selling 3,527 shares during the quarter. Vaughan David Investments Inc. IL’s holdings in Commerce Bancshares were worth $603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in CBSH. Captrust Financial Advisors purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at $106,000. Citizens Financial Group Inc RI lifted its position in shares of Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after buying an additional 539 shares during the last quarter. Mosaic Family Wealth LLC lifted its position in shares of Commerce Bancshares by 5.8% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after buying an additional 181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares during the last quarter. Finally, SignalPoint Asset Management LLC purchased a new position in shares of Commerce Bancshares during the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.
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In other Commerce Bancshares news, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the transaction, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares in the company, valued at $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded up $0.36 on Friday, reaching $56.06. The company had a trading volume of 483,017 shares, compared to its average volume of 361,838. The stock has a market cap of $5,700.00, a PE ratio of 19.74, a price-to-earnings-growth ratio of 3.09 and a beta of 0.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. Commerce Bancshares, Inc. has a twelve month low of $51.90 and a twelve month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. research analysts predict that Commerce Bancshares, Inc. will post 2.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.61%. Commerce Bancshares’s dividend payout ratio is currently 31.91%.
A number of brokerages have recently commented on CBSH. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research report on Friday, October 6th. BidaskClub cut Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Finally, UBS AG cut Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.63.
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.
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