Commerce Bancshares, Inc. $CBSH Shares Acquired by IFG Advisory LLC

IFG Advisory LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,262 shares of the financial services provider’s stock after buying an additional 2,013 shares during the period. IFG Advisory LLC’s holdings in Commerce Bancshares were worth $6,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Commerce Bancshares by 64.9% during the first 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Commerce Bancshares in the first quarter worth about $1,855,000. New York State Teachers Retirement System purchased a new stake in shares of Commerce Bancshares in the first quarter worth about $8,928,000. Novem Group lifted its holdings in Commerce Bancshares by 35.3% in the first quarter. Novem Group now owns 16,663 shares of the financial services provider’s stock valued at $1,037,000 after acquiring an additional 4,344 shares during the period. Finally, Eukles Asset Management lifted its holdings in Commerce Bancshares by 12.9% in the first quarter. Eukles Asset Management now owns 10,673 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 1,217 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBSH has been the subject of several recent research reports. Zacks Research lowered shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Morgan Stanley increased their target price on shares of Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Commerce Bancshares in a research note on Wednesday, October 8th. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Cowen restated a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $65.29.

Commerce Bancshares Trading Up 0.2%

NASDAQ:CBSH opened at $52.31 on Friday. Commerce Bancshares, Inc. has a 12 month low of $52.08 and a 12 month high of $72.75. The stock has a 50 day moving average of $58.44 and a two-hundred day moving average of $61.02. The firm has a market cap of $6.98 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 4.71 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $440.97 million for the quarter, compared to analysts’ expectations of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.Commerce Bancshares’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

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.