AlphaQuest LLC Has $332,000 Stock Position in Commerce Bancshares, Inc. $CBSH

AlphaQuest LLC lowered its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 73.3% during the first quarter, Holdings Channel reports. The fund owned 5,337 shares of the financial services provider’s stock after selling 14,633 shares during the quarter. AlphaQuest LLC’s holdings in Commerce Bancshares were worth $332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Kapitalo Investimentos Ltda acquired a new position in Commerce Bancshares in the 4th quarter worth approximately $26,000. IMA Advisory Services Inc. acquired a new position in Commerce Bancshares in the 1st quarter worth approximately $29,000. Allworth Financial LP boosted its stake in Commerce Bancshares by 55.0% in the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 231 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Commerce Bancshares in the 1st quarter worth approximately $59,000. Finally, GAMMA Investing LLC boosted its stake in Commerce Bancshares by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 739 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CBSH shares. Morgan Stanley raised their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. Piper Sandler increased their price target on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, Bank of America increased their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.20.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $62.81 on Thursday. The firm has a market cap of $8.38 billion, a PE ratio of 14.95, a PEG ratio of 2.86 and a beta of 0.61. The firm’s 50 day moving average price is $62.49 and its 200 day moving average price is $62.27. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.12. The firm had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. On average, sell-side analysts anticipate 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, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.19%.

Commerce Bancshares Company 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.