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Commerce Bancshares reported strong earnings and revenue growth, alongside a stake increase by a major investor.
Los Angeles Capital Management LLC increased its stake in Commerce Bancshares, Inc. by 8.0%, holding 391,932 shares.
The company reported higher-than-expected earnings of $1.01 EPS and a 7.3% increase in revenue to $422.10 million.
Commerce Bancshares also announced a quarterly dividend of $0.275 per share, with a yield of 1.71%.
Institutional investors own 70.26% of the company's stock.
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Commerce Bancshares informó de un fuerte crecimiento de los ingresos y ganancias, junto con un aumento de la participación de un importante inversor.