Mutual Advisors LLC Has $29.06 Million Stake in Commerce Bancshares, Inc. $CBSH

Mutual Advisors LLC reduced its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 468,471 shares of the financial services provider’s stock after selling 2,879 shares during the period. Commerce Bancshares comprises approximately 0.7% of Mutual Advisors LLC’s investment portfolio, making the stock its 17th largest position. Mutual Advisors LLC owned 0.35% of Commerce Bancshares worth $29,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its holdings in shares of Commerce Bancshares by 632.3% during the first quarter. Farther Finance Advisors LLC now owns 6,627 shares of the financial services provider’s stock worth $412,000 after buying an additional 5,722 shares in the last quarter. GAMMA Investing LLC increased its holdings in Commerce Bancshares by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 739 shares in the last quarter. SG Americas Securities LLC bought a new position in Commerce Bancshares in the first quarter valued at about $930,000. Wealth Enhancement Advisory Services LLC raised its position in Commerce Bancshares by 19.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,971 shares of the financial services provider’s stock valued at $1,118,000 after purchasing an additional 2,955 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Commerce Bancshares by 4.6% during the first quarter. CENTRAL TRUST Co now owns 55,018 shares of the financial services provider’s stock valued at $3,424,000 after purchasing an additional 2,406 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBSH shares. Morgan Stanley upped their price objective on Commerce Bancshares from $66.00 to $70.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. TD Cowen started coverage on shares of Commerce Bancshares in a research report on Thursday, September 25th. They issued a “hold” rating and a $63.00 price target for the company. Bank of America raised their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Piper Sandler boosted their price objective on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Zacks Research downgraded Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.43.

Commerce Bancshares Stock Up 1.8%

CBSH opened at $58.88 on Wednesday. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75. The company has a fifty day moving average of $60.31 and a 200-day moving average of $61.41. The stock has a market cap of $7.86 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 7.13 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.19%.

Commerce Bancshares Company 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.