Commerce Bancshares, Inc. $CBSH Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC increased its holdings in Commerce Bancshares by 23.3% in the second quarter, now owning 33,296 shares valued at $2,070,000.
• Several analysts have raised their price targets for Commerce Bancshares, with the consensus target set at $68.43 and an overall rating of "Hold" from equities research analysts.
• Commerce Bancshares recently announced a quarterly dividend of $0.275 per share, reflecting a 1.9% yield based on its current share price.

Vest Financial LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,296 shares of the financial services provider's stock after buying an additional 6,291 shares during the quarter. Vest Financial LLC's holdings in Commerce Bancshares were worth $2,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBSH. Invesco Ltd. boosted its holdings 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 buying an additional 488,960 shares during the period. Nuveen LLC acquired a new position in shares of Commerce Bancshares in the first quarter worth about $21,995,000. Vanguard Group Inc. boosted its holdings 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 during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Commerce Bancshares by 104.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 323,215 shares of the financial services provider's stock worth $20,114,000 after buying an additional 165,000 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Commerce Bancshares by 4.4% in the first quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider's stock worth $238,721,000 after buying an additional 161,082 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on CBSH. Morgan Stanley raised their target price on shares of Commerce Bancshares from $66.00 to $70.00 and gave the stock an "underperform" rating in a report on Monday, September 29th. Piper Sandler raised their price target on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Commerce Bancshares in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on shares of Commerce Bancshares from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, September 29th. Finally, Bank of America raised their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $68.43.

Commerce Bancshares Stock Up 1.8%

NASDAQ CBSH opened at $58.88 on Wednesday. The stock has a market capitalization of $7.86 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 7.13 and a beta of 0.59. The company has a 50 day moving average price of $60.31 and a two-hundred day moving average price of $61.41. Commerce Bancshares, Inc. has a 12-month low of $52.69 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.12. The firm 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 company's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares's payout ratio is 26.19%.

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.

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