Dimensional Fund Advisors LP Has $144.48 Million Stock Holdings in Commerce Bancshares, Inc. $CBSH

Key Points

• Dimensional Fund Advisors LP has increased its holdings in Commerce Bancshares by 2.2%, owning approximately 2.32 million shares valued at $144.48 million.
• A number of analysts have adjusted their price targets for CBSH, with Wells Fargo raising it to $69 and Bank of America to $71, while Wall Street Zen downgraded the stock from "hold" to "sell."
• Commerce Bancshares announced a quarterly dividend of $0.275 per share, reflecting an annualized dividend of $1.10 with a yield of 1.8%.

Dimensional Fund Advisors LP boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321,855 shares of the financial services provider's stock after buying an additional 49,737 shares during the period. Dimensional Fund Advisors LP owned approximately 1.74% of Commerce Bancshares worth $144,479,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CBSH. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Wells Fargo & Company lifted their price target 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 raised their target price on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley lifted their target price on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Finally, 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 report on Thursday, July 17th. Six analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $68.20.

Commerce Bancshares Stock Up 0.1%

Shares of NASDAQ CBSH opened at $61.97 on Thursday. The company has a market capitalization of $8.27 billion, a PE ratio of 14.75, a PEG ratio of 2.83 and a beta of 0.61. The stock's 50 day moving average price is $62.33 and its 200-day moving average price is $62.44. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued 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. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same period last year, the company posted $1.02 earnings per share. Commerce Bancshares's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. 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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