Teza Capital Management LLC Acquires Shares of 7,978 Commerce Bancshares, Inc. $CBSH

Teza Capital Management LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,978 shares of the financial services provider’s stock, valued at approximately $496,000.

A number of other large investors also recently modified their holdings of CBSH. Algert Global LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at $731,000. Ameriprise Financial Inc. grew its holdings in shares of Commerce Bancshares by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 620,590 shares of the financial services provider’s stock worth $38,662,000 after purchasing an additional 33,679 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Commerce Bancshares by 7.7% during the fourth quarter. Baird Financial Group Inc. now owns 33,018 shares of the financial services provider’s stock worth $2,057,000 after purchasing an additional 2,368 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Commerce Bancshares by 31.5% during the fourth quarter. Captrust Financial Advisors now owns 27,894 shares of the financial services provider’s stock worth $1,738,000 after purchasing an additional 6,675 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Commerce Bancshares during the fourth quarter worth about $264,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 1.7%

Shares of NASDAQ:CBSH opened at $60.58 on Monday. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.77 and a beta of 0.61. The firm’s 50-day simple moving average is $62.53 and its 200-day simple moving average is $61.99. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results 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 business had revenue of $445.76 million for the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.19%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CBSH. Piper Sandler raised 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. Wells Fargo & Company raised their price objective 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 downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Zacks Research downgraded shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Finally, 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 report on Tuesday, June 17th. Seven analysts have rated the stock with a Hold rating, According to MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $68.20.

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.