Entropy Technologies LP lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 96.7% in the 1st quarter, Holdings Channel reports. The fund owned 123,514 shares of the financial services provider’s stock after buying an additional 60,705 shares during the period. Entropy Technologies LP’s holdings in Commerce Bancshares were worth $6,077,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Commerce Bancshares during the first quarter valued at about $1,437,000. Public Employees Retirement System of Ohio grew its position in Commerce Bancshares by 1.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 40,705 shares of the financial services provider’s stock valued at $2,003,000 after buying an additional 498 shares in the last quarter. Sei Investments Co. grew its position in Commerce Bancshares by 73.7% in the 1st quarter. Sei Investments Co. now owns 281,210 shares of the financial services provider’s stock valued at $13,836,000 after buying an additional 119,298 shares in the last quarter. Lido Advisors LLC raised its position in shares of Commerce Bancshares by 8.1% during the 1st quarter. Lido Advisors LLC now owns 11,608 shares of the financial services provider’s stock worth $571,000 after buying an additional 865 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Commerce Bancshares by 17.0% in the 1st quarter. Cetera Investment Advisers now owns 72,040 shares of the financial services provider’s stock worth $3,544,000 after acquiring an additional 10,442 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.
Commerce Bancshares Stock Performance
Commerce Bancshares stock opened at $59.09 on Friday. The firm’s 50 day simple moving average is $55.62 and its 200-day simple moving average is $53.03. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $60.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $8.61 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58.
Wall Street Analyst Weigh In
Several brokerages recently commented on CBSH. Wells Fargo & Company boosted their target price on Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Hovde Group dropped their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. TD Cowen restated a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.43.
Get Our Latest Stock Report on CBSH
About Commerce Bancshares
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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