Advisor Resource Council Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Advisor Resource Council purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,206 shares of the financial services provider's stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Commerce Bancshares during the 4th quarter worth about $86,327,000. American Century Companies Inc. increased its holdings in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after purchasing an additional 745,661 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after purchasing an additional 642,401 shares in the last quarter. Aristotle Capital Management LLC raised its position in Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after purchasing an additional 351,406 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Commerce Bancshares by 31.8% in the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after buying an additional 310,443 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several research reports. Piper Sandler upped their price target on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Thursday, April 17th. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Bank of America boosted their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley increased their price target on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.00.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's 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 transaction, the director now owns 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.10% of the company's stock.

Commerce Bancshares Stock Down 0.2%

CBSH stock traded down $0.15 during trading hours on Friday, reaching $62.08. 821,690 shares of the stock were exchanged, compared to its average volume of 610,053. The firm's 50-day moving average is $62.41 and its 200-day moving average is $62.92. Commerce Bancshares, Inc. has a 12 month low of $51.37 and a 12 month high of $72.75. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 2.70 and a beta of 0.60. 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 (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, June 6th. Commerce Bancshares's dividend payout ratio is presently 26.63%.

Commerce Bancshares 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.