Commerce Bancshares, Inc. $CBSH Shares Bought by US Bancorp DE

US Bancorp DE raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 105,441 shares of the financial services provider’s stock after acquiring an additional 194 shares during the period. US Bancorp DE’s holdings in Commerce Bancshares were worth $6,555,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CBSH. Farther Finance Advisors LLC raised its holdings in Commerce Bancshares by 632.3% in the 1st quarter. Farther Finance Advisors LLC now owns 6,627 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 5,722 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock worth $117,000 after buying an additional 739 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Commerce Bancshares during the 1st quarter worth $930,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Commerce Bancshares by 19.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,971 shares of the financial services provider’s stock worth $1,118,000 after buying an additional 2,955 shares during the last quarter. Finally, Missouri Trust & Investment Co increased its holdings in shares of Commerce Bancshares by 5.8% during the 1st quarter. Missouri Trust & Investment Co now owns 4,708 shares of the financial services provider’s stock worth $293,000 after buying an additional 259 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on Commerce Bancshares from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, September 29th. Piper Sandler upped their price objective on Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Commerce Bancshares in a report on Wednesday, October 8th. Hovde Group assumed coverage on Commerce Bancshares in a report on Monday, October 6th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Bank of America upped their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.43.

Commerce Bancshares Trading Down 3.3%

Shares of NASDAQ CBSH opened at $56.63 on Monday. Commerce Bancshares, Inc. has a 12-month low of $52.69 and a 12-month high of $72.75. The company has a market cap of $7.56 billion, a P/E ratio of 13.48, a P/E/G ratio of 6.98 and a beta of 0.59. The stock has a fifty day moving average price of $60.41 and a 200 day moving average price of $61.45.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The firm had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. During the same period in the prior year, the firm earned $1.02 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 26.19%.

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.