Janney Montgomery Scott LLC Decreases Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Janney Montgomery Scott LLC reduced its position in Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,132 shares of the financial services provider’s stock after selling 4,414 shares during the period. Janney Montgomery Scott LLC’s holdings in Commerce Bancshares were worth $1,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBSH. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Commerce Bancshares in the 2nd quarter valued at about $36,000. First Horizon Advisors Inc. boosted its position in Commerce Bancshares by 256.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 560 shares of the financial services provider’s stock valued at $37,000 after buying an additional 403 shares during the last quarter. Atticus Wealth Management LLC boosted its position in Commerce Bancshares by 84.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 611 shares of the financial services provider’s stock valued at $40,000 after buying an additional 279 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Commerce Bancshares by 81.8% in the 1st quarter. Quadrant Capital Group LLC now owns 651 shares of the financial services provider’s stock valued at $47,000 after buying an additional 293 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Commerce Bancshares by 36.0% in the 1st quarter. Signaturefd LLC now owns 672 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 178 shares in the last quarter. 68.76% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 1.4 %

CBSH opened at $70.37 on Monday. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 18.09 and a beta of 0.77. Commerce Bancshares, Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $74.72. The company’s 50-day moving average price is $69.39 and its 200 day moving average price is $68.78.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last announced its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.01). Commerce Bancshares had a net margin of 31.86% and a return on equity of 16.45%. The firm had revenue of $384.90 million during the quarter, compared to analyst estimates of $383.58 million. During the same quarter in the previous year, the business posted $1.00 EPS. Commerce Bancshares’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.01 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.265 dividend. The ex-dividend date is Thursday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 1.51%. Commerce Bancshares’s payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBSH. Jefferies Financial Group cut their target price on shares of Commerce Bancshares from $75.00 to $71.00 in a research note on Monday, July 11th. DA Davidson upped their target price on shares of Commerce Bancshares to $71.00 in a research note on Monday, July 25th. Finally, StockNews.com began coverage on shares of Commerce Bancshares in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Buying and Selling at Commerce Bancshares

In other news, Director David W. Kemper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $69.54, for a total value of $695,400.00. Following the completion of the transaction, the director now directly owns 1,151,838 shares in the company, valued at $80,098,814.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO John W. Kemper sold 4,285 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $72.41, for a total value of $310,276.85. Following the completion of the transaction, the chief executive officer now directly owns 184,303 shares in the company, valued at $13,345,380.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David W. Kemper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $69.54, for a total transaction of $695,400.00. Following the completion of the transaction, the director now owns 1,151,838 shares of the company’s stock, valued at $80,098,814.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,000 shares of company stock worth $1,055,977. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Profile

(Get Rating)

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.

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

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