Mason Street Advisors LLC lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.9% during the first quarter, HoldingsChannel reports. The firm owned 52,487 shares of the financial services provider’s stock after purchasing an additional 489 shares during the quarter. Mason Street Advisors LLC’s holdings in Commerce Bancshares were worth $3,047,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gemmer Asset Management LLC lifted its position in shares of Commerce Bancshares by 79.4% during the first quarter. Gemmer Asset Management LLC now owns 452 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at $28,000. CX Institutional acquired a new stake in Commerce Bancshares in the first quarter valued at $28,000. Oregon Public Employees Retirement Fund raised its holdings in Commerce Bancshares by 5,818.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,190,482 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 2,153,473 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at $48,000. 63.87% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on CBSH. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Stephens reaffirmed a “hold” rating and issued a $62.00 price target on shares of Commerce Bancshares in a report on Thursday, April 11th. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, DA Davidson cut their price target on shares of Commerce Bancshares to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.68.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 11th. The financial services provider reported $0.85 earnings per share for the quarter, missing the 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 business had revenue of $324.73 million for the quarter, compared to the consensus estimate of $333.99 million. Equities analysts predict that Commerce Bancshares, Inc. will post 3.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.04 annualized dividend and a yield of 1.74%. Commerce Bancshares’s payout ratio is 27.51%.
In other Commerce Bancshares news, CEO John W. Kemper sold 7,075 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $63.41, for a total transaction of $448,625.75. Following the completion of the sale, the chief executive officer now owns 150,252 shares in the company, valued at $9,527,479.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John K. Handy sold 3,541 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.79, for a total transaction of $218,798.39. Following the sale, the insider now owns 35,251 shares of the company’s stock, valued at approximately $2,178,159.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,005 shares of company stock valued at $1,504,453. 3.60% of the stock is owned by insiders.
About Commerce Bancshares
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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