Advisor Resource Council Invests $316,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Advisor Resource Council bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,206 shares of the financial services provider's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kapitalo Investimentos Ltda bought a new position in shares of Commerce Bancshares during the fourth quarter worth about $26,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the fourth quarter worth $33,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after purchasing an additional 268 shares during the period. Transce3nd LLC bought a new position in shares of Commerce Bancshares in the 4th quarter worth about $68,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $113,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

NASDAQ:CBSH traded up $0.11 during trading hours on Tuesday, reaching $61.47. 637,648 shares of the company's stock were exchanged, compared to its average volume of 606,216. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.20 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 4.02 and a beta of 0.60. Commerce Bancshares, Inc. has a 12 month low of $50.90 and a 12 month high of $72.75. The business's 50-day simple moving average is $62.29 and its two-hundred day simple moving average is $62.98.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results 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. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The business had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. Sell-side analysts expect 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, June 24th. Stockholders of record on Friday, June 6th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.63%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CBSH shares. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Piper Sandler increased their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased 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 research report on Thursday, April 17th. Morgan Stanley lifted their price target on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Finally, Bank of America lifted their target price on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and an average target price of $65.00.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares of the company's stock, valued at $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.10% of the company's stock.

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.