State of Alaska Department of Revenue Has $2.23 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

State of Alaska Department of Revenue lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,377 shares of the financial services provider’s stock after buying an additional 1,497 shares during the period. State of Alaska Department of Revenue’s holdings in Commerce Bancshares were worth $2,227,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. CX Institutional bought a new stake in shares of Commerce Bancshares during the 1st quarter worth about $28,000. Pearl River Capital LLC bought a new position in Commerce Bancshares in the 4th quarter valued at $28,000. O Shaughnessy Asset Management LLC bought a new position in Commerce Bancshares in the 4th quarter valued at $48,000. Toronto Dominion Bank bought a new position in Commerce Bancshares in the 4th quarter valued at $72,000. Finally, Enlightenment Research LLC bought a new position in Commerce Bancshares in the 4th quarter valued at $73,000. 64.23% of the stock is currently owned by institutional investors.

In other Commerce Bancshares news, SVP Douglas D. Neff sold 807 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $60.66, for a total transaction of $48,952.62. Following the completion of the sale, the senior vice president now directly owns 3,917 shares in the company, valued at $237,605.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel D. Callahan sold 1,156 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $61.03, for a total transaction of $70,550.68. Following the sale, the vice president now owns 22,129 shares of the company’s stock, valued at $1,350,532.87. The disclosure for this sale can be found here. Insiders have sold 38,843 shares of company stock valued at $2,414,667 over the last 90 days. Company insiders own 3.60% of the company’s stock.

CBSH has been the topic of a number of recent research reports. Barclays reiterated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research report on Friday, January 11th. Raymond James raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective on the stock in a research note on Friday, January 18th. They noted that the move was a valuation call. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Stephens reaffirmed a “hold” rating and set a $62.00 price objective on shares of Commerce Bancshares in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.68.

Shares of NASDAQ CBSH traded down $0.24 during mid-day trading on Thursday, hitting $60.04. The company had a trading volume of 288,175 shares, compared to its average volume of 451,187. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 3.04 and a beta of 0.74. Commerce Bancshares, Inc. has a one year low of $53.40 and a one year high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, April 11th. The financial services provider reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.06). Commerce Bancshares had a net margin of 30.39% and a return on equity of 15.65%. The company had revenue of $324.73 million during the quarter, compared to the consensus estimate of $333.99 million. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, June 6th. Commerce Bancshares’s payout ratio is currently 27.51%.

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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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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

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