4,185 Shares in Commerce Bancshares, Inc. $CBSH Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC acquired 4,185 shares of Commerce Bancshares, Inc. valued at around $260,000 during Q1, highlighting increased institutional interest in the company.
• Commerce Bancshares reported earnings of $1.14 per share for the most recent quarter, exceeding analyst expectations and reflecting a 7.6% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.275 payable on September 23, 2023, representing an annual yield of 1.8% with a payout ratio of 26.19%.

Vident Advisory LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,185 shares of the financial services provider's stock, valued at approximately $260,000.

A number of other large investors have also recently made changes to their positions in CBSH. Ameriprise Financial Inc. increased its stake in shares of Commerce Bancshares by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 620,590 shares of the financial services provider's stock worth $38,662,000 after buying an additional 33,679 shares during the period. Captrust Financial Advisors boosted its holdings in Commerce Bancshares by 31.5% in the fourth quarter. Captrust Financial Advisors now owns 27,894 shares of the financial services provider's stock valued at $1,738,000 after purchasing an additional 6,675 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $264,000. Deutsche Bank AG boosted its holdings in Commerce Bancshares by 16.3% in the fourth quarter. Deutsche Bank AG now owns 9,921 shares of the financial services provider's stock valued at $618,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 43,650 shares of the financial services provider's stock valued at $2,720,000 after purchasing an additional 2,078 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research analyst reports. Bank of America upped their price target 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 cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted 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. Piper Sandler lifted 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, Morgan Stanley increased their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Seven equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $68.20.

Commerce Bancshares Trading Down 0.9%

CBSH stock opened at $60.25 on Wednesday. The company has a market capitalization of $8.04 billion, a P/E ratio of 14.35, a PEG ratio of 2.78 and a beta of 0.61. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75. The business has a 50 day simple moving average of $62.44 and a 200-day simple moving average of $61.96.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.12. The business had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 earnings per share. Research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company 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. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. 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.

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