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

MQS Management LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the first quarter, HoldingsChannel reports. The firm purchased 10,014 shares of the financial services provider’s stock, valued at approximately $493,000.

Several other institutional investors also recently modified their holdings of the business. Simmons Bank raised its position in Commerce Bancshares by 45.6% during the 1st quarter. Simmons Bank now owns 21,610 shares of the financial services provider’s stock worth $1,063,000 after purchasing an additional 6,766 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Commerce Bancshares by 4.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 20,699 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 970 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Commerce Bancshares in the 1st quarter valued at about $1,953,000. Fifth Third Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 9.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,625 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 413 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Commerce Bancshares by 99.1% in the first quarter. Diversified Trust Co now owns 33,406 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 16,628 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $57.75 on Wednesday. The business has a 50 day simple moving average of $53.04 and a 200 day simple moving average of $52.32. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $63.19. The stock has a market capitalization of $8.42 billion, a P/E ratio of 13.85, a P/E/G ratio of 3.93 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 4.14 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 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 was Friday, June 5th. Commerce Bancshares’s payout ratio is presently 26.38%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Hovde Group reduced their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $58.00.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.