Commerce Bancshares, Inc. $CBSH Shares Acquired by Ethic Inc.

Ethic Inc. grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,469 shares of the financial services provider’s stock after buying an additional 4,331 shares during the quarter. Ethic Inc.’s holdings in Commerce Bancshares were worth $1,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also 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 worth $52,799,000 after purchasing an additional 488,960 shares during the period. Nuveen LLC acquired a new position in Commerce Bancshares in the 1st quarter worth 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 worth $839,716,000 after purchasing 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 worth $20,114,000 after purchasing 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 worth $238,721,000 after purchasing an additional 161,082 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

CBSH stock opened at $53.19 on Monday. The business has a 50 day simple moving average of $59.17 and a 200-day simple moving average of $61.17. The firm has a market capitalization of $7.10 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 4.80 and a beta of 0.59. Commerce Bancshares, Inc. has a 1 year low of $52.11 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The company had revenue of $440.97 million during the quarter, compared to analysts’ expectations of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. Commerce Bancshares’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.07 earnings per share. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Wall Street Analyst Weigh In

CBSH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating for the company in a report on Friday, October 17th. Wells Fargo & Company reduced their price target on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. TD Cowen started coverage on Commerce Bancshares in a report on Thursday, September 25th. They issued a “hold” rating and a $63.00 price target for the company. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Zacks Research cut Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.29.

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.