Commerce Bancshares, Inc. $CBSH Stake Lessened by Aristotle Capital Management LLC

Key Points

• Aristotle Capital Management cut its stake in Commerce Bancshares by 82.2% in the first quarter, leaving it with 7,366 shares worth about $362,000.
• Commerce Bancshares reported better-than-expected quarterly earnings, posting $1.10 EPS versus the $1.04 estimate and revenue of $498.91 million, while analysts now expect full-year EPS of 4.22.
• Wall Street sentiment remains cautious overall: the stock has a consensus Hold rating with an average price target of $62.43, though some firms recently raised or reiterated higher targets.

Aristotle Capital Management LLC decreased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 82.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,366 shares of the financial services provider's stock after selling 33,985 shares during the period. Aristotle Capital Management LLC's holdings in Commerce Bancshares were worth $362,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBSH. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $25,000. Danske Bank A S bought a new stake in Commerce Bancshares in the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 216 shares during the period. Root Financial Partners LLC boosted its stake in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new position in Commerce Bancshares in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $59.09 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day moving average of $55.62 and a 200-day moving average of $53.03. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.76. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.10 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million for the quarter, compared to analysts' expectations of $492.22 million. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen reissued a "hold" rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Morgan Stanley reiterated a "positive" rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Hovde Group decreased their price target on Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company raised their price target on Commerce Bancshares from $53.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $62.43.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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