63,445 Shares in Commerce Bancshares, Inc. $CBSH Bought by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 63,445 shares of the financial services provider’s stock, valued at approximately $3,944,000.

Several other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 296 shares in the last quarter. IMA Advisory Services Inc. bought a new position in Commerce Bancshares in the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. lifted its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Allworth Financial LP boosted its position in Commerce Bancshares by 55.0% in the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock valued at $40,000 after buying an additional 231 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in Commerce Bancshares in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the subject of several research analyst reports. TD Cowen began coverage on shares of Commerce Bancshares in a report on Thursday, September 25th. They set a “hold” rating and a $63.00 price target for the company. Piper Sandler reduced their price objective on Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Hovde Group initiated coverage on Commerce Bancshares in a report on Monday, October 6th. They issued an “outperform” rating and a $70.00 target price for the company. Wells Fargo & Company dropped their target price on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, Zacks Research cut Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. One equities research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.29.

Commerce Bancshares Trading Up 1.0%

CBSH stock opened at $54.15 on Friday. The firm has a market cap of $7.23 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 4.71 and a beta of 0.62. The stock has a 50-day moving average price of $57.35 and a 200-day moving average price of $60.77. Commerce Bancshares, Inc. has a 1-year low of $51.64 and a 1-year high of $72.75.

Commerce Bancshares shares are going to split before the market opens on Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell on Monday, December 1st.

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

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

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.