MQS Management LLC Acquires New Position in Commerce Bancshares, Inc. $CBSH

MQS Management LLC acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,577 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 buying an additional 268,250 shares during the period. American Century Companies Inc. lifted its stake 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 buying an additional 161,082 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider’s stock valued at $144,479,000 after buying an additional 49,737 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Commerce Bancshares by 1.9% during the second quarter. Boston Trust Walden Corp now owns 1,483,309 shares of the financial services provider’s stock valued at $92,217,000 after buying an additional 27,813 shares during the period. Finally, Cooke & Bieler LP lifted its stake in shares of Commerce Bancshares by 6.3% during the first quarter. Cooke & Bieler LP now owns 955,548 shares of the financial services provider’s stock valued at $59,464,000 after buying an additional 56,382 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CBSH. Piper Sandler reduced their price objective on shares of Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Morgan Stanley upped their price target on shares of Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Cowen reaffirmed a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday, October 21st. Hovde Group started coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $70.00 price target for the company. Finally, Zacks Research lowered shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.29.

Commerce Bancshares Stock Down 0.2%

Commerce Bancshares stock opened at $53.08 on Tuesday. Commerce Bancshares, Inc. has a 52-week low of $52.11 and a 52-week high of $72.75. The firm has a fifty day moving average of $59.00 and a 200-day moving average of $61.13. The firm has a market capitalization of $7.08 billion, a P/E ratio of 12.67, a PEG ratio of 4.80 and a beta of 0.59.

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

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.