Commerce Bancshares, Inc. (NASDAQ:CBSH) Position Raised by Eaton Vance Management


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Eaton Vance Management increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 34.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 587,114 shares of the financial services provider’s stock after purchasing an additional 149,843 shares during the period. Eaton Vance Management owned 0.50% of Commerce Bancshares worth $38,573,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Commerce Bancshares by 8.4% in the fourth quarter. BlackRock Inc. now owns 9,400,822 shares of the financial services provider’s stock worth $617,633,000 after buying an additional 727,325 shares during the last quarter. Aristotle Capital Management LLC grew its position in Commerce Bancshares by 7.5% in the fourth quarter. Aristotle Capital Management LLC now owns 7,964,067 shares of the financial services provider’s stock worth $523,239,000 after buying an additional 553,101 shares during the last quarter. Lazard Asset Management LLC grew its position in Commerce Bancshares by 12.1% in the fourth quarter. Lazard Asset Management LLC now owns 4,801,873 shares of the financial services provider’s stock worth $315,482,000 after buying an additional 518,996 shares during the last quarter. JPMorgan Chase & Co. grew its position in Commerce Bancshares by 0.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,965,194 shares of the financial services provider’s stock worth $129,114,000 after buying an additional 16,701 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Commerce Bancshares by 2.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,827,276 shares of the financial services provider’s stock worth $120,053,000 after buying an additional 44,321 shares during the last quarter. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CBSH opened at $77.56 on Thursday. Commerce Bancshares, Inc. has a twelve month low of $48.60 and a twelve month high of $83.06. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 28.88 and a beta of 0.96. The firm’s 50 day moving average price is $76.96 and its two-hundred day moving average price is $68.03.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, January 19th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.17. Commerce Bancshares had a net margin of 23.67% and a return on equity of 10.49%. The firm had revenue of $344.90 million for the quarter, compared to analysts’ expectations of $347.85 million. During the same period in the previous year, the company posted $0.81 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 2.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 24th. Shareholders of record on Tuesday, March 9th were given a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Monday, March 8th. Commerce Bancshares’s payout ratio is 30.79%.

In other news, VP David L. Orf sold 2,021 shares of the business’s stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $73.39, for a total transaction of $148,321.19. Following the transaction, the vice president now directly owns 14,375 shares in the company, valued at approximately $1,054,981.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John W. Kemper sold 10,026 shares of the business’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $71.78, for a total transaction of $719,666.28. Following the transaction, the chief executive officer now owns 167,881 shares in the company, valued at $12,050,498.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,282 shares of company stock worth $8,172,628. Corporate insiders own 3.40% of the company’s stock.

Separately, Morgan Stanley lifted their price target on shares of Commerce Bancshares from $64.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 24th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.75.

Commerce Bancshares Profile

Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.

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

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