NFJ Investment Group LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 809,553 shares of the financial services provider’s stock after buying an additional 15,071 shares during the period. Commerce Bancshares comprises approximately 1.5% of NFJ Investment Group LLC’s portfolio, making the stock its 16th biggest holding. NFJ Investment Group LLC’s holdings in Commerce Bancshares were worth $42,372,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Daytona Street Capital LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $25,000. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the third quarter worth $25,000. Geneos Wealth Management Inc. grew its stake in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter worth $34,000. Finally, Rothschild Investment LLC grew its stake in shares of Commerce Bancshares by 3,820.0% in the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 573 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company reduced their target price on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average price target of $59.30.
Commerce Bancshares Price Performance
Shares of CBSH stock opened at $55.82 on Friday. The stock has a market cap of $8.14 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 3.79 and a beta of 0.60. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $63.19. The stock has a fifty day moving average price of $51.70 and a 200 day moving average price of $51.96.
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.Commerce Bancshares’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.12 EPS for the current year.
Commerce Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.38%.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.
The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.
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