Cwm LLC Buys 1,086 Shares of Commerce Bancshares, Inc. $CBSH

Cwm LLC grew its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 122,503 shares of the financial services provider’s stock after acquiring an additional 1,086 shares during the period. Cwm LLC’s holdings in Commerce Bancshares were worth $7,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 2.0% during the first quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider’s stock valued at $839,716,000 after acquiring an additional 268,250 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Commerce Bancshares by 4.4% during the first quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider’s stock valued at $238,721,000 after acquiring an additional 161,082 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Commerce Bancshares by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider’s stock worth $144,479,000 after buying an additional 49,737 shares in the last quarter. Cooke & Bieler LP increased its holdings in Commerce Bancshares by 6.3% in the 1st quarter. Cooke & Bieler LP now owns 955,548 shares of the financial services provider’s stock worth $59,464,000 after buying an additional 56,382 shares in the last quarter. Finally, Invesco Ltd. increased 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 buying an additional 488,960 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $58.88 on Wednesday. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 7.13 and a beta of 0.59. The stock’s 50-day simple moving average is $60.31 and its two-hundred day simple moving average is $61.41. Commerce Bancshares, Inc. has a 52-week low of $52.69 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.12. The business had revenue of $445.76 million for the quarter, compared to analysts’ expectations of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.02 earnings per share. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, September 5th. Commerce Bancshares’s payout ratio is presently 26.19%.

Analysts Set New Price Targets

CBSH has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Commerce Bancshares in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Zacks Research downgraded Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. TD Cowen initiated coverage on Commerce Bancshares in a report on Thursday, September 25th. They issued a “hold” rating and a $63.00 price objective for the company. Finally, Hovde Group initiated coverage on Commerce Bancshares in a report on Monday, October 6th. They issued an “outperform” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $68.43.

Commerce Bancshares 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.