Several other institutional investors and hedge funds also recently modified their holdings of CBSH. Blue Trust Inc. boosted its position in shares of Commerce Bancshares by 35.3% in the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after buying an additional 439 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth about $201,000. Retirement Systems of Alabama boosted its holdings in Commerce Bancshares by 4.5% in the fourth quarter. Retirement Systems of Alabama now owns 148,976 shares of the financial services provider’s stock valued at $9,283,000 after purchasing an additional 6,466 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Commerce Bancshares by 8.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,823 shares of the financial services provider’s stock worth $238,000 after buying an additional 314 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Commerce Bancshares by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 13,969 shares of the financial services provider’s stock worth $870,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Shares of CBSH stock opened at $63.45 on Friday. The stock has a 50-day simple moving average of $61.39 and a 200 day simple moving average of $63.85. The stock has a market capitalization of $8.47 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.73%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

In other news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares in the company, valued at approximately $192,786. This represents a 33.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

A number of analysts have recently weighed in on the company. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised their target price on Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $58.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $63.20.

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Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.

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