Commerce Bancshares, Inc. $CBSH Shares Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 47.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,413 shares of the financial services provider’s stock after acquiring an additional 2,399 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Commerce Bancshares were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Commerce Bancshares by 136.0% in the 1st quarter. Invesco Ltd. now owns 848,442 shares of the financial services provider’s stock valued at $52,799,000 after buying an additional 488,960 shares during the period. Nuveen LLC purchased a new stake in Commerce Bancshares in the 1st quarter valued at about $21,995,000. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider’s stock valued at $839,716,000 after buying an additional 268,250 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Commerce Bancshares by 104.3% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 323,215 shares of the financial services provider’s stock valued at $20,114,000 after buying an additional 165,000 shares during the period. Finally, American Century Companies Inc. raised its holdings in Commerce Bancshares by 4.4% in the 1st quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider’s stock valued at $238,721,000 after buying an additional 161,082 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.6%

CBSH stock opened at $53.51 on Thursday. The company has a market capitalization of $7.14 billion, a P/E ratio of 12.77, a PEG ratio of 4.84 and a beta of 0.59. Commerce Bancshares, Inc. has a twelve month low of $52.11 and a twelve month high of $72.75. The business has a 50 day simple moving average of $59.51 and a 200-day simple moving average of $61.15.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The company had revenue of $440.97 million for the quarter, compared to analysts’ expectations of $447.04 million. During the same quarter last year, the company earned $1.07 EPS. Commerce Bancshares’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Analyst Ratings Changes

CBSH has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $66.00 to $70.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Wells Fargo & Company cut their price target on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Piper Sandler cut their price target on shares of Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. 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 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price target on shares of Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating on the stock in a research note on Friday, October 17th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.29.

Commerce Bancshares Profile

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.