Commerce Bank lowered its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,629,792 shares of the financial services provider's stock after selling 15,014 shares during the quarter. Commerce Bancshares accounts for 1.8% of Commerce Bank's investment portfolio, making the stock its 7th biggest position. Commerce Bank owned 3.45% of Commerce Bancshares worth $288,112,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Aristotle Capital Management LLC raised its holdings in shares of Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after purchasing an additional 351,406 shares during the period. Geode Capital Management LLC lifted its position in Commerce Bancshares by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock valued at $155,756,000 after buying an additional 87,723 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Commerce Bancshares by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock worth $141,584,000 after buying an additional 227,052 shares during the period. Wells Fargo & Company MN grew its stake in Commerce Bancshares by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock worth $135,533,000 after buying an additional 38,210 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Commerce Bancshares by 12.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider's stock worth $99,364,000 after acquiring an additional 182,423 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.
Commerce Bancshares Trading Down 2.1%
NASDAQ CBSH traded down $1.28 during mid-day trading on Friday, reaching $59.92. 648,967 shares of the company's stock traded hands, compared to its average volume of 851,937. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.76 and a beta of 0.61. The company has a fifty day simple moving average of $62.83 and a 200-day simple moving average of $62.84. Commerce Bancshares, Inc. has a 1-year low of $52.69 and a 1-year high of $72.75.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results 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 business 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 company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.02 earnings per share. Equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.
Commerce Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 yield of 1.8%. Commerce Bancshares's dividend payout ratio is 26.19%.
Wall Street Analysts Forecast Growth
Several research firms have commented on CBSH. Wells Fargo & Company raised their price objective on Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. 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 report on Tuesday, June 17th. Bank of America boosted their price target on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.20.
View Our Latest Stock Analysis on Commerce Bancshares
Commerce Bancshares Profile
(
Free Report)
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.
Further Reading

Before you consider Commerce Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Commerce Bancshares wasn't on the list.
While Commerce Bancshares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.