15,054 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Acquired by Cushing Capital Partners LLC

Cushing Capital Partners LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,054 shares of the financial services provider's stock, valued at approximately $937,000.

A number of other institutional investors have also recently made changes to their positions in the stock. CENTRAL TRUST Co boosted its holdings in Commerce Bancshares by 4.6% in the first quarter. CENTRAL TRUST Co now owns 55,018 shares of the financial services provider's stock valued at $3,424,000 after acquiring an additional 2,406 shares in the last quarter. Missouri Trust & Investment Co lifted its position in shares of Commerce Bancshares by 5.8% in the 1st quarter. Missouri Trust & Investment Co now owns 4,708 shares of the financial services provider's stock worth $293,000 after purchasing an additional 259 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Commerce Bancshares by 19.7% during the 1st 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 in the last quarter. Marshall Financial Group LLC boosted its stake in shares of Commerce Bancshares by 4.2% during the 1st quarter. Marshall Financial Group LLC now owns 20,020 shares of the financial services provider's stock valued at $1,246,000 after purchasing an additional 798 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Commerce Bancshares during the first quarter valued at about $930,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 0.9%

Shares of NASDAQ:CBSH opened at $60.28 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $62.04 and a two-hundred day simple moving average of $63.28. Commerce Bancshares, Inc. has a 12-month low of $50.60 and a 12-month high of $72.75. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 4.02 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.82%. Commerce Bancshares's dividend payout ratio is currently 26.63%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler upped their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Morgan Stanley increased their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wells Fargo & Company lowered their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and a consensus price target of $63.80.

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.

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