Curi RMB Capital LLC Takes $258,000 Position in Commerce Bancshares, Inc. $CBSH

Key Points

• Curi RMB Capital LLC acquired 4,148 shares of Commerce Bancshares, Inc. (NASDAQ:CBSH), valued at approximately $258,000, indicating growing institutional interest in the company.
• Commerce Bancshares reported a quarterly EPS of $1.14, exceeding analysts' expectations of $1.02, and its revenue for the quarter increased by 7.6% year-over-year, reaching $445.76 million.
• The company announced a quarterly dividend of $0.275, scheduled for payment on September 23rd, representing an annualized dividend yield of 1.8%.

Curi RMB Capital LLC acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,148 shares of the financial services provider's stock, valued at approximately $258,000.

Several other hedge funds also recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its position in shares of Commerce Bancshares by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider's stock valued at $2,128,000 after acquiring an additional 175 shares during the period. State of Michigan Retirement System lifted its position in Commerce Bancshares by 0.7% in the first quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider's stock worth $1,815,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted its position in Commerce Bancshares by 55.0% in the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after purchasing an additional 231 shares during the period. Missouri Trust & Investment Co lifted its position in Commerce Bancshares by 5.8% in the first 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. Finally, Smith Shellnut Wilson LLC ADV lifted its position in Commerce Bancshares by 5.0% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 6,254 shares of the financial services provider's stock worth $390,000 after purchasing an additional 295 shares during the period. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Commerce Bancshares from $62.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Zacks Research cut Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Morgan Stanley raised their target price on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Piper Sandler raised their target price on Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $68.20.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH traded down $0.09 during midday trading on Thursday, reaching $59.83. 393,689 shares of the company traded hands, compared to its average volume of 673,824. The firm has a market cap of $7.98 billion, a PE ratio of 14.24, a PEG ratio of 2.76 and a beta of 0.61. The stock's 50-day simple moving average is $62.36 and its 200-day simple moving average is $61.94. Commerce Bancshares, Inc. has a 12 month low of $52.69 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a $0.275 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. Commerce Bancshares's dividend payout ratio (DPR) is 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.