Balasa Dinverno Foltz buys $1.6 Million stake in Commerce Bancshares (CBSH)

Commerce Bancshares (CBSH) : Balasa Dinverno Foltz scooped up 3,273 additional shares in Commerce Bancshares during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 34,153 shares of Commerce Bancshares which is valued at $1.6 Million.Commerce Bancshares makes up approximately 0.29% of Balasa Dinverno Foltz’s portfolio.

Other Hedge Funds, Including , Great Lakes Advisors boosted its stake in CBSH in the latest quarter, The investment management firm added 157 additional shares and now holds a total of 25,982 shares of Commerce Bancshares which is valued at $1.2 Million. Commerce Bancshares makes up approx 0.03% of Great Lakes Advisors’s portfolio.Tiaa Cref Investment Management boosted its stake in CBSH in the latest quarter, The investment management firm added 509 additional shares and now holds a total of 183,290 shares of Commerce Bancshares which is valued at $8.5 Million. Commerce Bancshares makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.Schwab Charles Investment Management Inc boosted its stake in CBSH in the latest quarter, The investment management firm added 8,134 additional shares and now holds a total of 337,982 shares of Commerce Bancshares which is valued at $15.7 Million. Commerce Bancshares makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.Russell Frank Co boosted its stake in CBSH in the latest quarter, The investment management firm added 15,219 additional shares and now holds a total of 66,073 shares of Commerce Bancshares which is valued at $3.1 Million. Commerce Bancshares makes up approx 0.01% of Russell Frank Co’s portfolio.Oppenheimer Co Inc boosted its stake in CBSH in the latest quarter, The investment management firm added 586 additional shares and now holds a total of 112,051 shares of Commerce Bancshares which is valued at $5.2 Million. Commerce Bancshares makes up approx 0.16% of Oppenheimer Co Inc’s portfolio.

Commerce Bancshares opened for trading at $47.19 and hit $47.74 on the upside on Monday, eventually ending the session at $47.49, with a gain of 1.00% or 0.47 points. The heightened volatility saw the trading volume jump to 3,02,593 shares. Company has a market cap of $4,585 M.

On the company’s financial health, Commerce Bancshares reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 13, 2016. Analyst had a consensus of $0.62. The company had revenue of $282.80 million for the quarter, compared to analysts expectations of $281.27 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Investors should note that on Apr 20, 2016, Commerce Bancshares announced a cash dividend of $0.2250. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 27, 2016.

Commerce Bancshares Inc. is a bank holding company of Commerce Bank (the Bank). The Company operates through three segments: Consumer Commercial and Wealth. The Consumer segment includes the retail branch network consumer installment lending personal mortgage banking consumer debit and credit bank card activities. It provides services through a network of 195 branches an automated teller machine (ATM) network of 392 machines and the use of alternative delivery channels such as online banking mobile and telephone banking services. The Commercial segment provides an array of corporate lending merchant and commercial bank card products leasing and international services as well as business and government deposit and cash management services. The Wealth segment provides trust and estate tax planning services brokerage services and advisory and discretionary investment portfolio management services to both personal and institutional corporate customers.

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