SG Americas Securities LLC Trims Stock Position in Commerce Bancshares, Inc. $CBSH

SG Americas Securities LLC lessened its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 70.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,504 shares of the financial services provider’s stock after selling 53,440 shares during the period. SG Americas Securities LLC’s holdings in Commerce Bancshares were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CBSH. Diversified Trust Co raised its position in shares of Commerce Bancshares by 99.1% in the first quarter. Diversified Trust Co now owns 33,406 shares of the financial services provider’s stock worth $1,644,000 after buying an additional 16,628 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Commerce Bancshares by 64.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,414 shares of the financial services provider’s stock worth $650,000 after buying an additional 4,846 shares in the last quarter. Hsbc Holdings PLC grew its position in Commerce Bancshares by 231.1% during the fourth quarter. Hsbc Holdings PLC now owns 245,229 shares of the financial services provider’s stock worth $12,871,000 after buying an additional 171,159 shares in the last quarter. Waterford Advisors LLC bought a new position in Commerce Bancshares in the 4th quarter worth about $2,577,000. Finally, Invesco Ltd. increased its stake in Commerce Bancshares by 12.1% in the 4th quarter. Invesco Ltd. now owns 404,232 shares of the financial services provider’s stock worth $21,157,000 after acquiring an additional 43,608 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $58.03 on Friday. The company has a market capitalization of $8.46 billion, a P/E ratio of 13.92, a PEG ratio of 3.92 and a beta of 0.58. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $63.19. The stock has a 50 day moving average price of $53.48 and a two-hundred day moving average price of $52.43.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $481.94 million. During the same quarter last year, the business earned $0.98 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 4.14 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio is presently 26.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBSH. Wells Fargo & Company dropped their price target on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Morgan Stanley reiterated a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.00.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.