29,854 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 29,854 shares of the financial services provider's stock, valued at approximately $1,855,000.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter worth $842,000. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after buying an additional 642,401 shares in the last quarter. GAMMA Investing LLC grew its holdings in Commerce Bancshares by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock valued at $117,000 after buying an additional 739 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Commerce Bancshares by 5.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 232,767 shares of the financial services provider's stock valued at $14,504,000 after buying an additional 11,227 shares in the last quarter. Finally, Advisor Resource Council bought a new stake in shares of Commerce Bancshares during the 1st quarter valued at about $316,000. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction that occurred 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 owned 3,175 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by company insiders.

Commerce Bancshares Trading Up 0.6%

Commerce Bancshares stock opened at $64.93 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. Commerce Bancshares, Inc. has a one year low of $52.57 and a one year high of $72.75. The stock has a market capitalization of $8.66 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.85 and a beta of 0.59. The business's fifty day moving average is $62.89 and its 200 day moving average is $62.75.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Friday, June 6th. Commerce Bancshares's dividend payout ratio is 26.63%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target 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. Morgan Stanley boosted their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Bank of America upped their target price on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reduced their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.60.

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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