Vigilant Capital Management Lowers stake in Commerce Bancshares (CBSH)

Commerce Bancshares (CBSH) : Vigilant Capital Management reduced its stake in Commerce Bancshares by 2.59% during the most recent quarter end. The investment management company now holds a total of 179,133 shares of Commerce Bancshares which is valued at $8,576,888 after selling 4,755 shares in Commerce Bancshares , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Commerce Bancshares makes up approximately 1.59% of Vigilant Capital Management’s portfolio.

Other Hedge Funds, Including , Dearborn Partners boosted its stake in CBSH in the latest quarter, The investment management firm added 9,650 additional shares and now holds a total of 288,224 shares of Commerce Bancshares which is valued at $13,800,165. Commerce Bancshares makes up approx 1.17% of Dearborn Partners’s portfolio.Creative Planning boosted its stake in CBSH in the latest quarter, The investment management firm added 65,337 additional shares and now holds a total of 98,419 shares of Commerce Bancshares which is valued at $4,771,353. Commerce Bancshares makes up approx 0.03% of Creative Planning’s portfolio.Curian Capital reduced its stake in CBSH by selling 11,617 shares or 66.44% in the most recent quarter. The Hedge Fund company now holds 5,869 shares of CBSH which is valued at $276,782. Commerce Bancshares makes up approx 0.02% of Curian Capital’s portfolio.

Commerce Bancshares closed down -0.21 points or -0.44% at $47.88 with 4,55,599 shares getting traded on Wednesday. Post opening the session at $48.24, the shares hit an intraday low of $47.57 and an intraday high of $48.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

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.

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