Commerce Bancshares (CBSH) : Nuance Investments reduced its stake in Commerce Bancshares by 45.42% during the most recent quarter end. The investment management company now holds a total of 478,626 shares of Commerce Bancshares which is valued at $22,706,017 after selling 398,220 shares in Commerce Bancshares , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Commerce Bancshares makes up approximately 2.35% of Nuance Investments’s portfolio.
Other Hedge Funds, Including , Royal London Asset Management Ltd reduced its stake in CBSH by selling 3,467 shares or 10.84% in the most recent quarter. The Hedge Fund company now holds 28,523 shares of CBSH which is valued at $1,353,131. Commerce Bancshares makes up approx 0.02% of Royal London Asset Management Ltd’s portfolio.Signaturefd boosted its stake in CBSH in the latest quarter, The investment management firm added 91 additional shares and now holds a total of 206 shares of Commerce Bancshares which is valued at $9,742.Capstone Asset Management Co boosted its stake in CBSH in the latest quarter, The investment management firm added 429 additional shares and now holds a total of 6,735 shares of Commerce Bancshares which is valued at $326,513. Commerce Bancshares makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CBSH in the latest quarter, The investment management firm added 28,820 additional shares and now holds a total of 41,304 shares of Commerce Bancshares which is valued at $1,947,897. Commerce Bancshares makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.
Commerce Bancshares closed down -0.17 points or -0.35% at $48.55 with 3,17,072 shares getting traded on Monday. Post opening the session at $48.84, the shares hit an intraday low of $48.45 and an intraday high of $48.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Commerce Bancshares reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 13, 2016. Analyst had a consensus of $0.68. The company had revenue of $296.20 million for the quarter, compared to analysts expectations of $295.65 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
Investors should note that on Jul 29, 2016, Commerce Bancshares announced a cash dividend of $0.2250. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 26, 2016.
Many Wall Street Analysts have commented on Commerce Bancshares. Piper Jaffray Initiated Commerce Bancshares on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $43.50.
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.