Dimensional Fund Advisors LP Has $194 Million Stock Holdings in Commerce Bancshares, Inc. $CBSH

Key Points

• Dimensional Fund Advisors LP boosted its Commerce Bancshares stake by 29.3% in Q1, buying 894,183 additional shares and bringing its total holding to 3,943,247 shares worth about $194 million.
• Commerce Bancshares continues to draw heavy institutional interest, with hedge funds and other investors owning 70.26% of the stock; notable buyers included Vanguard, Norges Bank, and Champlain Investment Partners.
• The bank reported stronger-than-expected quarterly results, posting $1.10 EPS versus the $1.04 consensus and revenue of $498.91 million, while analysts currently rate the stock a Hold on average with a $62.43 target price.

Dimensional Fund Advisors LP increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,943,247 shares of the financial services provider's stock after purchasing an additional 894,183 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.68% of Commerce Bancshares worth $193,999,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CBSH. Norges Bank acquired a new stake in Commerce Bancshares during the fourth quarter valued at $85,282,000. Champlain Investment Partners LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at approximately $58,830,000. Vanguard Group Inc. increased its position in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider's stock worth $768,877,000 after buying an additional 1,098,142 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider's stock valued at $59,965,000 after buying an additional 1,070,980 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Commerce Bancshares by 37.4% in the fourth quarter. First Trust Advisors LP now owns 2,352,406 shares of the financial services provider's stock worth $123,125,000 after buying an additional 640,928 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBSH shares. Piper Sandler reissued a "neutral" rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Hovde Group cut their price objective on Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings raised Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. TD Cowen reaffirmed a "hold" rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Finally, Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.43.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $59.09 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.61 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.76. The company's 50-day moving average price is $55.62 and its two-hundred day moving average price is $53.03.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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