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

Edgestream Partners L.P. grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 25.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,547 shares of the financial services provider's stock after buying an additional 28,046 shares during the period. Edgestream Partners L.P. owned 0.10% of Commerce Bancshares worth $8,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CBSH. Norges Bank acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $86,327,000. American Century Companies Inc. raised its position in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after buying an additional 745,661 shares during the last quarter. Vanguard Group Inc. increased its position in Commerce Bancshares by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. Aristotle Capital Management LLC raised its stake in Commerce Bancshares by 4.3% during the fourth 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. Finally, Northern Trust Corp raised its stake in Commerce Bancshares by 31.8% during the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock worth $80,161,000 after purchasing an additional 310,443 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 1.5%

Shares of CBSH traded up $0.96 during trading on Thursday, reaching $64.27. 2,236,754 shares of the company traded hands, compared to its average volume of 624,272. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75. The stock has a market cap of $8.58 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The stock has a 50-day simple moving average of $63.34 and a 200-day simple moving average of $62.85.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. During the same period last year, the business earned $1.02 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Friday, June 6th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, June 6th. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.63%.

Analysts Set New Price Targets

A number of equities analysts have commented on CBSH shares. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Bank of America lifted their target price on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Piper Sandler reaffirmed a "neutral" rating and set a $70.00 target price (up from $66.50) on shares of Commerce Bancshares in a research note on Thursday. Finally, Keefe, Bruyette & Woods reduced their target price 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 investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and a consensus target price of $66.80.

Insider Buying and Selling at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director owned 3,175 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company's stock.

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.