Latest Stocks: Commerce Bancshares, Inc. (CBSH) Shares Bought by Elkfork Partners LLC

Latest Stocks: Commerce Bancshares, Inc. (CBSH) Shares Bought by Elkfork Partners LLC

Elkfork Partners LLC boosted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 18.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,282 shares of the financial services provider’s stock after buying an additional 1,122 shares during the period. Elkfork Partners LLC’s holdings in Commerce Bancshares were worth $409,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CBSH. Massmutual Trust Co. FSB ADV bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at about $108,000. MUFG Americas Holdings Corp raised its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. MUFG Americas Holdings Corp now owns 2,056 shares of the financial services provider’s stock valued at $119,000 after buying an additional 97 shares during the last quarter. Mosaic Family Wealth LLC increased its position in Commerce Bancshares by 11.2% in the third quarter. Mosaic Family Wealth LLC now owns 2,889 shares of the financial services provider’s stock valued at $142,000 after buying an additional 291 shares during the period. Envestnet Asset Management Inc. increased its position in Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock valued at $185,000 after buying an additional 1,273 shares during the period. Finally, Tudor Investment Corp Et Al acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

Commerce Bancshares, Inc. (CBSH) opened at 54.20 on Tuesday. The company has a market cap of $5.51 billion, a P/E ratio of 20.28 and a beta of 0.74. Commerce Bancshares, Inc. has a 52 week low of $42.44 and a 52 week high of $60.61. The stock has a 50 day moving average of $54.94 and a 200 day moving average of $56.43.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. The firm had revenue of $295.30 million during the quarter, compared to the consensus estimate of $298.61 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. On average, analysts expect that Commerce Bancshares, Inc. will post $2.84 earnings per share for the current year. The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Friday, June 9th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, June 7th. Commerce Bancshares’s payout ratio is currently 34.44%.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. The firm had revenue of $295.30 million during the quarter, compared to the consensus estimate of $298.61 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. On average, analysts expect that Commerce Bancshares, Inc. will post $2.84 earnings per share for the current year. Several research analysts have commented on the stock. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, March 21st. Keefe, Bruyette & Woods restated a “sell” rating and set a $46.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, April 5th. Jefferies Group LLC restated a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research report on Tuesday, April 4th. Barclays PLC decreased their target price on shares of Commerce Bancshares from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 11th. Finally, Piper Jaffray Companies decreased their target price on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.83.

In other news, Chairman David W. Kemper sold 13,973 shares of the stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $54.32, for a total value of $759,013.36. Following the completion of the sale, the chairman now directly owns 1,227,014 shares of the company’s stock, valued at $66,651,400.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia R. Kellerhals sold 604 shares of the stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $54.50, for a total value of $32,918.00. Following the completion of the sale, the insider now directly owns 5,563 shares of the company’s stock, valued at $303,183.50. The disclosure for this sale can be found here. Insiders sold 29,162 shares of company stock valued at $1,601,564 over the last three months. Corporate insiders own 4.60% of the company’s stock. About Commerce Bancshares

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