Commerce Bancshares, Inc. $CBSH Stock Holdings Increased by NFJ Investment Group LLC

NFJ Investment Group LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 809,553 shares of the financial services provider’s stock after purchasing an additional 15,071 shares during the quarter. Commerce Bancshares accounts for 1.5% of NFJ Investment Group LLC’s portfolio, making the stock its 16th largest position. NFJ Investment Group LLC owned about 0.61% of Commerce Bancshares worth $42,372,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Danske Bank A S acquired a new position in Commerce Bancshares in the third quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its holdings in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the last quarter. Daytona Street Capital LLC acquired a new position in Commerce Bancshares in the fourth quarter worth approximately $25,000. Rothschild Investment LLC increased its holdings in Commerce Bancshares by 3,820.0% in the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after buying an additional 573 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares in the fourth quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CBSH shares. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. TD Cowen restated a “hold” rating and issued a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Wells Fargo & Company dropped their price objective on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Morgan Stanley dropped their price objective on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Finally, Hovde Group dropped their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.30.

Commerce Bancshares Stock Up 1.3%

Shares of CBSH stock opened at $55.82 on Friday. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $63.19. The business’s 50 day moving average is $51.70 and its two-hundred day moving average is $51.96. The company has a market cap of $8.14 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.79 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $475.69 million for the quarter, compared to the consensus estimate 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a $0.275 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.38%.

Commerce Bancshares Profile

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.