Commerce Bancshares, Inc. $CBSH Stock Holdings Increased by Alliancebernstein L.P.

Key Points

• AllianceBernstein L.P. increased its stake in Commerce Bancshares by 67.6% during the first quarter, now owning 271,115 shares valued at approximately $16.87 million.
• Commerce Bancshares recently announced a quarterly dividend of $0.275 per share, representing an annual yield of 1.8% and a payout ratio of 26.19%.
• Analysts have adjusted price targets for Commerce Bancshares, with a consensus target of $68.20 and a current consensus rating of "Hold".

Alliancebernstein L.P. lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 67.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,115 shares of the financial services provider's stock after purchasing an additional 109,375 shares during the quarter. Alliancebernstein L.P. owned 0.20% of Commerce Bancshares worth $16,871,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CBSH. Allspring Global Investments Holdings LLC acquired a new position in Commerce Bancshares during the 1st quarter valued at about $1,855,000. HighTower Advisors LLC lifted its stake in shares of Commerce Bancshares by 39.5% in the 1st quarter. HighTower Advisors LLC now owns 19,259 shares of the financial services provider's stock worth $1,198,000 after acquiring an additional 5,453 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Commerce Bancshares by 64.9% in the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 739 shares in the last quarter. Novem Group increased its stake in shares of Commerce Bancshares by 35.3% during the first quarter. Novem Group now owns 16,663 shares of the financial services provider's stock valued at $1,037,000 after acquiring an additional 4,344 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Commerce Bancshares by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider's stock worth $144,479,000 after purchasing an additional 49,737 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their target price on Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Bank of America lifted their target price on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley boosted their price target on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Finally, Zacks Research lowered shares of Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Seven equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Commerce Bancshares currently has a consensus rating of "Hold" and a consensus target price of $68.20.

Commerce Bancshares Trading Up 0.3%

NASDAQ CBSH opened at $60.11 on Friday. Commerce Bancshares, Inc. has a 1 year low of $52.69 and a 1 year high of $72.75. The company has a market cap of $8.02 billion, a PE ratio of 14.31, a PEG ratio of 2.74 and a beta of 0.61. The stock's 50-day moving average price is $62.27 and its two-hundred day moving average price is $61.91.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The company had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. During the same period last year, the company posted $1.02 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts forecast 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, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 5th. Commerce Bancshares's payout ratio is 26.19%.

Commerce Bancshares Company 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.

Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.