Nomura Holdings Inc. Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nomura Holdings Inc. purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 16,257 shares of the financial services provider’s stock, valued at approximately $1,013,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new position in shares of Commerce Bancshares in the 4th quarter valued at $26,000. CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares in the 4th quarter valued at $33,000. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares in the 4th quarter valued at $35,000. V Square Quantitative Management LLC increased its stake in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,175 shares of the company’s stock, valued at approximately $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Trading Up 0.1%

NASDAQ CBSH opened at $65.63 on Monday. The business’s 50-day moving average price is $60.88 and its two-hundred day moving average price is $64.43. Commerce Bancshares, Inc. has a 12 month low of $49.97 and a 12 month high of $72.75. The firm has a market capitalization of $8.76 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. As a group, analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, June 6th. Commerce Bancshares’s dividend payout ratio is 26.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective 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. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective 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. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Piper Sandler boosted their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $63.20.

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.