Commerce Bancshares, Inc. $CBSH Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Commerce Bancshares by 4.4% in Q1, now holding approximately 2.88% of the company valued at $238.7 million.
• Commerce Bancshares recently reported $1.14 earnings per share, beating estimates, with revenue of $445.76 million, reflecting a 7.6% year-over-year increase.
• The company announced a quarterly dividend of $0.275 per share, with an annualized dividend yield of 1.8%.

American Century Companies Inc. boosted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,836,113 shares of the financial services provider's stock after buying an additional 161,082 shares during the quarter. American Century Companies Inc. owned approximately 2.88% of Commerce Bancshares worth $238,721,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Commerce Bancshares in the 1st quarter valued at approximately $1,855,000. Integrated Wealth Concepts LLC purchased a new position in shares of Commerce Bancshares during the 4th quarter worth $842,000. GAMMA Investing LLC lifted its stake in shares of Commerce Bancshares by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock worth $117,000 after purchasing an additional 739 shares during the period. Novem Group lifted its stake in shares of Commerce Bancshares by 35.3% during the 1st quarter. Novem Group now owns 16,663 shares of the financial services provider's stock worth $1,037,000 after purchasing an additional 4,344 shares during the period. Finally, Advisor Resource Council purchased a new position in shares of Commerce Bancshares during the 1st quarter worth $316,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Price Performance

NASDAQ CBSH traded up $0.1550 during trading hours on Thursday, hitting $62.1250. The company had a trading volume of 110,778 shares, compared to its average volume of 642,561. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 2.83 and a beta of 0.61. The firm's 50 day moving average is $62.33 and its 200 day moving average is $62.44.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.12. The firm had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.19%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CBSH shares. Piper Sandler increased their price target on Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their price target on Commerce Bancshares from $62.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Morgan Stanley increased their price target on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Wall Street Zen lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Bank of America increased their price target on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of "Hold" and an average target price of $68.20.

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.