Todays Report: The Bank of Montreal Can Invests $7,771,000 in Commerce Bancshares Inc. (CBSH)

The Bank of Montreal Can Invests $7,771,000 in Commerce Bancshares Inc. (CBSH)

Bank of Montreal Can purchased a new position in Commerce Bancshares Inc. (NASDAQ:CBSH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 162,247 shares of the financial services provider’s stock, valued at approximately $7,771,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CBSH. Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of Commerce Bancshares by 1.2% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 233,250 shares of the financial services provider’s stock worth $11,173,000 after buying an additional 2,705 shares during the last quarter. Country Club Trust Company n.a. boosted its position in shares of Commerce Bancshares by 1.3% in the second quarter. Country Club Trust Company n.a. now owns 77,235 shares of the financial services provider’s stock worth $3,699,000 after buying an additional 966 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Commerce Bancshares by 72.0% in the second quarter. LS Investment Advisors LLC now owns 4,978 shares of the financial services provider’s stock worth $238,000 after buying an additional 2,084 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Commerce Bancshares by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 5,022 shares of the financial services provider’s stock worth $240,000 after buying an additional 278 shares during the last quarter. Finally, Dearborn Partners LLC boosted its position in shares of Commerce Bancshares by 3.5% in the second quarter. Dearborn Partners LLC now owns 288,224 shares of the financial services provider’s stock worth $13,806,000 after buying an additional 9,650 shares during the last quarter. Institutional investors own 60.86% of the company’s stock.

Shares of Commerce Bancshares Inc. (NASDAQ:CBSH) traded up 0.24% during trading on Friday, hitting $50.09. The stock had a trading volume of 485,303 shares. The firm has a 50-day moving average price of $49.47 and a 200 day moving average price of $47.72. The company has a market capitalization of $4.84 billion, a PE ratio of 19.19 and a beta of 0.74. Commerce Bancshares Inc. has a 52 week low of $37.44 and a 52 week high of $51.30.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $288.40 million for the quarter, compared to analyst estimates of $295.65 million. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Equities analysts anticipate that Commerce Bancshares Inc. will post $2.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were paid a $0.225 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.80%. Commerce Bancshares’s dividend payout ratio is currently 34.50%.

A number of brokerages recently commented on CBSH. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Morgan Stanley lowered Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective on the stock. in a research note on Tuesday, September 20th. Jefferies Group reaffirmed a “hold” rating on shares of Commerce Bancshares in a research note on Thursday, August 18th. Finally, Piper Jaffray Cos. assumed coverage on Commerce Bancshares in a research note on Monday, July 11th. They issued a “neutral” rating and a $43.50 price objective on the stock. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $45.25.

In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $47.22, for a total value of $2,361,000.00. Following the transaction, the insider now directly owns 1,242,407 shares in the company, valued at approximately $58,666,458.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles G. Kim sold 5,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $48.04, for a total value of $240,200.00. Following the completion of the transaction, the insider now owns 82,551 shares in the company, valued at $3,965,750.04. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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