17 Capital Partners LLC Trims Stake in Commerce Bancshares, Inc. $CBSH

17 Capital Partners LLC lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,595 shares of the financial services provider’s stock after selling 1,359 shares during the quarter. 17 Capital Partners LLC’s holdings in Commerce Bancshares were worth $597,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CBSH. Smartleaf Asset Management LLC increased its stake in Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 296 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Commerce Bancshares during the first quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in shares of Commerce Bancshares in the second quarter worth approximately $46,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Commerce Bancshares in the first quarter valued at approximately $59,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.8%

Shares of CBSH stock opened at $52.53 on Thursday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 4.71 and a beta of 0.62. The stock has a fifty day moving average of $56.09 and a 200 day moving average of $60.33. Commerce Bancshares, Inc. has a 52 week low of $51.12 and a 52 week high of $72.75.

Commerce Bancshares shares are scheduled to split on the morning of Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, December 1st.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.03). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The firm had revenue of $448.85 million during the quarter, compared to the consensus estimate of $447.04 million. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $0.275 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CBSH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Thursday, November 13th. Cowen reaffirmed a “hold” rating on shares of Commerce Bancshares in a report on Tuesday, October 21st. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Friday, October 17th. Morgan Stanley increased their target price on Commerce Bancshares from $66.00 to $70.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company dropped their price target on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.29.

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