Boston Trust Walden Corp Raises Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)
Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,094,108 shares of the financial services provider's stock after purchasing an addit Boston Trust Walden Corp increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.7% during the 4th quarter. The fund now owns 1,094,108 shares of the financial services provider's stock, after purchasing an additional 68,245 shares during the period. The company owned approximately 0.84% of the stock, worth $58,436,000. Several other hedge funds and other institutional investors also bought and sold shares of CBSH. The stock has a market cap of $6.83 billion and a dividend payout ratio of 205%.
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Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,094,108 shares of the financial services provider's stock after purchasing an additional 68,245 shares during the period. Boston Trust Walden Corp owned approximately 0.84% of Commerce Bancshares worth $58,436,000 as of its most recent filing with the SEC.
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Several other hedge funds and other institutional investors also recently bought and sold shares of CBSH. BKM Wealth Management LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter worth $29,000. Quantbot Technologies LP acquired a new stake in shares of Commerce Bancshares in the 2nd quarter worth $42,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Commerce Bancshares in the 4th quarter worth $35,000. Altshuler Shaham Ltd acquired a new stake in shares of Commerce Bancshares in the 4th quarter worth $47,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares in the 2nd quarter worth $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on the stock. Bank of America assumed coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They issued a "neutral" rating and a $55.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a "market perform" rating in a research note on Friday, January 19th. Finally, Morgan Stanley raised their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.17.
Get Our Latest Stock Report on Commerce Bancshares
CBSH traded up $0.28 during trading on Thursday, hitting $52.56. The company's stock had a trading volume of 666,484 shares, compared to its average volume of 471,414. The stock has a market cap of $6.83 billion, a PE ratio of 14.48 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $56.75. The firm's 50 day moving average price is $51.91 and its 200-day moving average price is $50.60.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The company had revenue of $393.30 million during the quarter, compared to analysts' expectations of $386.34 million. During the same period in the previous year, the company earned $0.99 EPS. The business's quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 6th. This represents a $1.08 annualized dividend and a dividend yield of 2.05%. Commerce Bancshares's dividend payout ratio is presently 29.75%.
In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the company's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the sale, the director now directly owns 33,567 shares of the company's stock, valued at approximately $1,806,911.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of the company's stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total value of $40,055.10. Following the completion of the transaction, the senior vice president now directly owns 25,502 shares of the company's stock, valued at approximately $1,399,294.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the company's stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the transaction, the director now directly owns 33,567 shares of the company's stock, valued at $1,806,911.61. The disclosure for this sale can be found here. In the last three months, insiders sold 14,321 shares of company stock valued at $752,387. Company insiders own 3.20% of the company's stock.
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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