9,932 Shares in Commerce Bancshares, Inc. $CBSH Bought by Caliber Wealth Management LLC KS

Caliber Wealth Management LLC KS purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,932 shares of the financial services provider’s stock, valued at approximately $617,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Commerce Bancshares in the first quarter valued at $1,855,000. HighTower Advisors LLC increased its holdings in Commerce Bancshares by 39.5% in the first quarter. HighTower Advisors LLC now owns 19,259 shares of the financial services provider’s stock valued at $1,198,000 after buying an additional 5,453 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Commerce Bancshares by 67.6% in the first quarter. Alliancebernstein L.P. now owns 271,115 shares of the financial services provider’s stock valued at $16,871,000 after buying an additional 109,375 shares in the last quarter. GAMMA Investing LLC increased its holdings in Commerce Bancshares by 64.9% in the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock valued at $117,000 after buying an additional 739 shares in the last quarter. Finally, Novem Group increased its holdings in Commerce Bancshares by 35.3% in the first quarter. Novem Group now owns 16,663 shares of the financial services provider’s stock valued at $1,037,000 after buying an additional 4,344 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $53.51 on Thursday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 4.84 and a beta of 0.59. The company’s 50-day moving average is $59.51 and its two-hundred day moving average is $61.15. Commerce Bancshares, Inc. has a 1-year low of $52.11 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $440.97 million during the quarter, compared to analyst estimates of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, September 5th. Commerce Bancshares’s payout ratio is presently 26.25%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CBSH shares. Zacks Research cut shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Commerce Bancshares in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Hovde Group started coverage on shares of Commerce Bancshares in a research note on Monday, October 6th. They set an “outperform” rating and a $70.00 target price for the company. Finally, TD Cowen started coverage on shares of Commerce Bancshares in a research note on Thursday, September 25th. They set a “hold” rating and a $63.00 target price for the company. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $65.29.

About Commerce Bancshares

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.