Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 25.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,547 shares of the financial services provider's stock after purchasing an additional 28,046 shares during the period. Edgestream Partners L.P. owned 0.10% of Commerce Bancshares worth $8,622,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Kapitalo Investimentos Ltda purchased a new stake in Commerce Bancshares during the fourth quarter worth $26,000. CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares during the fourth quarter worth $33,000. Allworth Financial LP lifted its holdings in Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after buying an additional 231 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Commerce Bancshares by 46.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock worth $52,000 after buying an additional 268 shares during the period. Finally, Transce3nd LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of several analyst reports. Morgan Stanley increased their price objective on 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 increased their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Piper Sandler increased their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. 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 report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $66.00.

Commerce Bancshares Price Performance

CBSH stock traded down $2.81 during trading on Tuesday, hitting $63.30. The stock had a trading volume of 1,091,352 shares, compared to its average volume of 617,775. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75. The stock has a market capitalization of $8.45 billion, a P/E ratio of 15.33, a PEG ratio of 2.96 and a beta of 0.59. The company's 50-day moving average price is $63.30 and its two-hundred day moving average price is $62.84.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director owned 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by insiders.

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.