Dimensional Fund Advisors LP Has $144.48 Million Stock Position 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 lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,321,855 shares of the financial services provider's stock after acquiring 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 hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider's stock worth $839,716,000 after buying an additional 268,250 shares during the period. Aristotle Capital Management LLC raised its holdings in Commerce Bancshares by 4.3% during 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 buying an additional 351,406 shares during the period. Northern Trust Corp raised its holdings in Commerce Bancshares by 31.8% during the 4th quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock worth $80,161,000 after buying an additional 310,443 shares during the period. First Trust Advisors LP raised its holdings in Commerce Bancshares by 5.4% during the 4th quarter. First Trust Advisors LP now owns 1,011,260 shares of the financial services provider's stock worth $63,012,000 after buying an additional 52,147 shares during the period. Finally, Cooke & Bieler LP raised its holdings in Commerce Bancshares by 6.3% during the 1st quarter. Cooke & Bieler LP now owns 955,548 shares of the financial services provider's stock worth $59,464,000 after buying an additional 56,382 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.8%

Shares of NASDAQ:CBSH traded up $0.52 during midday trading on Tuesday, hitting $62.68. The stock had a trading volume of 1,194,011 shares, compared to its average volume of 658,732. The business's 50-day simple moving average is $62.44 and its 200-day simple moving average is $62.26. Commerce Bancshares, Inc. has a 12 month low of $52.69 and a 12 month high of $72.75. The company has a market cap of $8.36 billion, a P/E ratio of 14.92, a PEG ratio of 2.84 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data 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 net margin of 26.37% and a return on equity of 16.01%. The firm had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. During the same period in the previous year, the business posted $1.02 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

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

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.