Thurston Springer Miller Herd & Titak Inc. Has $2.37 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 28.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,144 shares of the financial services provider’s stock after acquiring an additional 8,347 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Commerce Bancshares were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Kapitalo Investimentos Ltda acquired a new stake in Commerce Bancshares in the 4th quarter valued at about $26,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares in the 4th quarter valued at about $33,000. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at about $35,000. V Square Quantitative Management LLC increased its position in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 361 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $63.30 on Thursday. The company’s 50 day simple moving average is $61.36 and its 200 day simple moving average is $64.02. Commerce Bancshares, Inc. has a fifty-two week low of $49.97 and a fifty-two week high of $72.75. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, June 6th. Commerce Bancshares’s payout ratio is 26.63%.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the transaction, the director now owns 3,175 shares of the company’s stock, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

CBSH has been the subject of several research reports. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Piper Sandler lifted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lowered their price target on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.20.

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.