UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $28.45 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 26.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 456,563 shares of the financial services provider’s stock after purchasing an additional 94,287 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.36% of Commerce Bancshares worth $28,448,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kapitalo Investimentos Ltda bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at $26,000. CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at $33,000. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at $35,000. V Square Quantitative Management LLC increased its stake in shares of 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 stake in shares of 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.

Insiders Place Their Bets

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares of the company’s stock, valued at approximately $192,786. This represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $62.76 on Tuesday. The firm has a 50-day moving average of $61.22 and a 200-day moving average of $64.34. The company has a market cap of $8.37 billion, a PE ratio of 15.65, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a one year low of $49.97 and a one year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, June 6th. Commerce Bancshares’s payout ratio is presently 26.63%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CBSH. Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. 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 note on Monday, April 7th. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler upped their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $63.20.

Commerce Bancshares 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.