7,168 Shares in Commerce Bancshares, Inc. $CBSH Acquired by Claris Advisors LLC MO

Key Points

• Claris Advisors LLC purchased 7,168 shares of Commerce Bancshares, Inc. for approximately $446,000 in the second quarter, marking a new stake in the company.
• Commerce Bancshares reported $1.14 earnings per share in its latest quarterly results, surpassing analyst expectations and showing a 7.6% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.275 per share, representing an annualized dividend of $1.10 and a yield of 1.8%.

Claris Advisors LLC MO purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,168 shares of the financial services provider's stock, valued at approximately $446,000.

A number of other hedge funds have also recently made changes to their positions in CBSH. Vanguard Group Inc. raised its position in shares of Commerce Bancshares by 2.0% in the first quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider's stock worth $839,716,000 after buying an additional 268,250 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Commerce Bancshares by 4.4% in the 1st quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider's stock valued at $238,721,000 after acquiring an additional 161,082 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Commerce Bancshares by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider's stock valued at $144,479,000 after acquiring an additional 49,737 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Commerce Bancshares by 6.3% during the first quarter. Cooke & Bieler LP now owns 955,548 shares of the financial services provider's stock worth $59,464,000 after purchasing an additional 56,382 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Commerce Bancshares by 136.0% in the first quarter. Invesco Ltd. now owns 848,442 shares of the financial services provider's stock worth $52,799,000 after purchasing an additional 488,960 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CBSH shares. TD Cowen initiated coverage on shares of Commerce Bancshares in a research report on Thursday, September 25th. They set a "hold" rating and a $63.00 target price for the company. Zacks Research downgraded Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Piper Sandler increased their price target on shares of Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $66.00 to $70.00 and gave the stock an "underperform" rating in a report on Monday. Finally, Wells Fargo & Company cut their price objective on shares of Commerce Bancshares from $69.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $68.17.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $59.48 on Tuesday. The company has a market capitalization of $7.94 billion, a P/E ratio of 14.16, a PEG ratio of 2.73 and a beta of 0.61. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The stock has a 50 day moving average price of $60.95 and a two-hundred day moving average price of $61.66.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 EPS. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, September 5th. Commerce Bancshares's payout ratio is currently 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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