Commerce Bancshares, Inc. $CBSH Shares Bought by US Bancorp DE

US Bancorp DE grew its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,441 shares of the financial services provider’s stock after purchasing an additional 194 shares during the period. US Bancorp DE owned approximately 0.08% of Commerce Bancshares worth $6,555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its stake in shares of Commerce Bancshares by 7.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 26,715 shares of the financial services provider’s stock worth $1,661,000 after acquiring an additional 1,900 shares in the last quarter. Mattern Capital Management LLC boosted its stake in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Mattern Capital Management LLC now owns 141,824 shares of the financial services provider’s stock worth $8,817,000 after acquiring an additional 657 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Commerce Bancshares by 4.5% during the 2nd quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 174 shares in the last quarter. Claris Advisors LLC MO purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $446,000. Finally, Signaturefd LLC boosted its stake in shares of Commerce Bancshares by 13.8% during the 2nd quarter. Signaturefd LLC now owns 2,036 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

CBSH stock opened at $56.63 on Monday. Commerce Bancshares, Inc. has a 1 year low of $52.69 and a 1 year high of $72.75. The stock’s 50 day moving average price is $60.41 and its 200 day moving average price is $61.45. The firm has a market cap of $7.56 billion, a P/E ratio of 13.48, a PEG ratio of 6.98 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The firm had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same quarter in the prior year, the company earned $1.02 EPS. Commerce Bancshares’s revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a $0.275 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s payout ratio is 26.19%.

Analyst Ratings Changes

CBSH has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Commerce Bancshares in a research note on Wednesday, October 8th. Piper Sandler boosted their price target on Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Hovde Group initiated coverage on Commerce Bancshares in a research note on Monday, October 6th. They set an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley boosted their price target on Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, Zacks Research lowered Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.43.

About Commerce Bancshares

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.