Commerce Bancshares, Inc. $CBSH Shares Purchased by Entropy Technologies LP

Entropy Technologies LP raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 96.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,514 shares of the financial services provider’s stock after buying an additional 60,705 shares during the quarter. Entropy Technologies LP owned about 0.08% of Commerce Bancshares worth $6,077,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CBSH. Apriem Advisors grew its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 191 shares during the period. Heartland Bank & Trust Co raised its stake in Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 192 shares during the period. Outlook Wealth Advisors LLC raised its stake in Commerce Bancshares by 3.7% during the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 214 shares during the period. Elser Financial Planning Inc boosted its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares during the last quarter. Finally, Centerpoint Advisory Group boosted its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Hovde Group reduced their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. TD Cowen reiterated a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.43.

Commerce Bancshares Stock Up 0.8%

NASDAQ:CBSH opened at $59.09 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.76. The stock has a 50-day simple moving average of $55.62 and a 200 day simple moving average of $53.03.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The firm had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Sell-side analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Commerce Bancshares Company 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.