Apriem Advisors trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the financial services provider’s stock after selling 3,000 shares during the period. Apriem Advisors’ holdings in Commerce Bancshares were worth $867,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Commerce Bancshares by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after purchasing an additional 35,361 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $272,000. Nuance Investments LLC grew its position in Commerce Bancshares by 4.3% in the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock valued at $57,563,000 after acquiring an additional 40,997 shares in the last quarter. Schroder Investment Management Group grew its position in Commerce Bancshares by 1.5% in the third quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock valued at $48,491,000 after acquiring an additional 12,843 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Commerce Bancshares by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after acquiring an additional 8,179 shares in the last quarter. Institutional investors own 59.14% of the company’s stock.
Commerce Bancshares, Inc. (NASDAQ CBSH) traded down $0.68 during mid-day trading on Friday, reaching $55.84. The company’s stock had a trading volume of 329,615 shares, compared to its average volume of 437,191. The company has a market capitalization of $6,031.50, a PE ratio of 20.79, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80. 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 12 month low of $51.90 and a 12 month high of $60.61.
The company also recently announced a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s payout ratio is currently 33.51%.
In other news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the sale, the insider now owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
Several brokerages have issued reports on CBSH. Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday, October 6th. Barclays reiterated a “hold” rating and set a $55.00 target price on shares of Commerce Bancshares in a research note on Sunday, December 24th. BidaskClub upgraded Commerce Bancshares from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research note on Friday, September 15th. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $56.25.
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Commerce Bancshares Company Profile
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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