Amundi Has $1.55 Million Position in Commerce Bancshares, Inc. $CBSH

Key Points

• Amundi has significantly decreased its stake in Commerce Bancshares, Inc. by 55.7%, owning 26,892 shares after selling 33,748 shares in the first quarter.
• Commerce Bancshares reported an EPS of $1.14 for the last quarter, beating estimates and achieving a 7.6% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.275 per share, with an annualized dividend yield of 1.8%.

Amundi lessened its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 55.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,892 shares of the financial services provider's stock after selling 33,748 shares during the period. Amundi's holdings in Commerce Bancshares were worth $1,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Commerce Bancshares by 191.0% during the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Commerce Bancshares during the first quarter valued at approximately $29,000. Allworth Financial LP grew its holdings in Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 231 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Commerce Bancshares during the first quarter valued at approximately $59,000. Finally, GAMMA Investing LLC grew its holdings in Commerce Bancshares by 64.9% during the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 739 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Zacks Research cut Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Bank of America lifted their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley raised their target price 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. Finally, Piper Sandler raised their target price on Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of "Hold" and an average target price of $68.20.

Commerce Bancshares Stock Up 1.7%

CBSH stock traded up $1.00 during midday trading on Thursday, reaching $60.25. The stock had a trading volume of 732,614 shares, compared to its average volume of 916,411. The business has a fifty day simple moving average of $61.69 and a two-hundred day simple moving average of $61.74. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.71 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.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.12. The firm had revenue of $445.76 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a dividend of $0.275 per share. 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 payout ratio is presently 26.19%.

About Commerce Bancshares

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.